Meanwhile, cash differentials for 10 ppm sulphur gasoil fell to $1.29 a barrel. Jet fuel refining margins also weakened from the previous day at $22.21 per barrel.
The regrade spread widened to a five-week low, at a discount of $2.20 per barrel. SINGAPORE CASH DEALS - Two gasoil deals, no jet fuel trade. INVENTORIES
- U.S. distillate stockpiles , which include diesel and heating oil, fell by 1.3 million barrels to 119.2 million barrels, versus expectations for a 400,000-barrel rise. - Singapore middle distillates stocks held by up to 14 major oil and oil storage companies rose to a two-week high of 7.685 million barrels as of Feb. 15, according to data released on Thursday by Enterprise Singapore. NEWS
- Oil prices rose on Thursday as hopes of a robust fuel demand recovery in China offset losses arising from strength in the greenback and a large build in U.S. crude inventory.
- India has cut its windfall tax on crude oil and exports of aviation turbine fuel and diesel, according to a government notification dated Feb. 15.
- Pakistan has hiked the price of petrol by 22.20 rupees ($0.0835) a litre to 272 rupees ($1.02) effective on Thursday because of the plummeting value of the country's currency, the finance ministry said in a statement.
- Budget carrier Norwegian Air Shuttle reported a fourth-quarter net loss on Thursday, citing high fuel costs and a strong U.S. dollar, but said it expected strong demand ahead.
PRICES
MID-DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC
Close
Spot Gas Oil 0.5% 101.54 -1.54 -1.49 103.08 GO 0.5 Diff -6.20 0.00 0.00 -6.20 Spot Gas Oil 0.25% 102.68 -1.63 -1.56 104.31 GO 0.25 Diff -5.06 -0.09 1.81 -4.97 <GO25-SIN-DI
F>
Spot Gas Oil 0.05% 104.85 -1.31 -1.23 106.16 GO 0.05 Diff -2.89 0.23 -7.37 -3.12 <GO005-SIN-D
IF>
Spot Gas Oil 0.001% 109.03 -1.85 -1.67 110.88 GO 0.001 Diff 1.29 -0.31 -19.38 1.60 <GO10-SIN-DI
F>
Spot Jet/Kero 106.97 -2.25 -2.06 109.22 Jet/Kero Diff 1.60 -0.23 -12.57 1.83 <JET-SIN-DIF
>
For a list of derivatives prices, including margins, please double
click the RICs below.
Brent M1 Gasoil M1 Gasoil M1/M2 Gasoil M2 Regrade M1 Regrade M2 Jet M1 Jet M1/M2 Jet M2 Gasoil 500ppm-Dubai Cracks M1
Gasoil 500ppm-Dubai Cracks M2
Jet Cracks M1 Jet Cracks M2 East-West M1 East-West M2 LGO M1 LGO M1/M2 LGO M2 Crack LGO-Brent M1 Crack LGO-Brent M2 (Reporting by Jeslyn Lerh; editing by Eileen Soreng)
