Asia Distillates-Gasoil margins up 7% on some buyers make a comeback

SINGAPORE, Feb 27 (Reuters) - Asia's 10 ppm sulphur gasoil margins opened the week firmer by 7% to $24.22 per barrel, compared with the previous close, as some buyers re-entered on hopes that the market had bottomed out.

Limited liquidity for open market physical discussions, however, capped gains overall.

Cash differentials for 10 ppm sulphur gasoil went up to $1.19 per barrel, tracking the firmness in margins - even though a buy-sell gap was evident throughout the afternoon trading session. Jet fuel refining margins rose by a slower pace to $22.22 per barrel, resulting in wider regrade values at a discount of $2 per barrel.

SINGAPORE CASH DEALS - No gasoil or jet fuel deals

NEWS - Airbus SE and Qantas Airways Ltd plan to announce the first investment from a $200 million fund to develop a sustainable aviation fuel (SAF) industry in Australia within about a month, an Airbus executive said on Monday. - Russia halted supplies of oil to Poland via the Druzhba pipeline, PKN Orlen's CEO said on Saturday, adding that the Polish refiner would tap other sources to plug the gap. - China's Yulong Petrochemical agreed two two-year crude oil supply deals with BP and Chevron to supply its 400,000 barrel-per-day greenfield refinery in northern China from next year, a company official told Reuters on Monday. The refinery is due to begin commercial operation by December 2024, a Chinese government official told an investment forum in Singapore.

- Oil prices fell in volatile trade on Monday, as a stronger dollar and fears of recession risks offset gains arising from Russia's plans to deepen oil supply cuts. PRICES MID-DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC Spot Gas Oil 0.5% 98.97 1.68 1.73 97.29 GO 0.5 Diff -6.45 0.12 -1.83 -6.57 Spot Gas Oil 0.25% 98.99 1.68 1.73 97.31 GO 0.25 Diff -6.43 0.12 -1.83 -6.55 Spot Gas Oil 0.05% 101.81 1.68 1.68 100.13 GO 0.05 Diff -3.61 0.12 -3.22 -3.73 Spot Gas Oil 0.001% 106.61 1.68 1.60 104.93 GO 0.001 Diff 1.19 0.12 11.21 1.07 Spot Jet/Kero 104.43 1.06 1.03 103.37 Jet/Kero Diff 0.99 0.03 3.13 0.96 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 Trixie Yap; editing by Uttaresh.V)

Reuters

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Asia Distillates-Gasoil margins up 7% on some buyers make a comeback

By Reuters

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