SINGAPORE CASH DEALS - No gasoil or jet fuel deal
INVENTORIES - U.S. crude oil inventories rose last week, while fuel stockpiles fell, according to market sources citing American Petroleum Institute figures on Tuesday. Crude stocks rose by about 6.2 million barrels in the week ended Feb. 24, they said. Gasoline inventories fell by about 1.8 million barrels, while distillate stocks fell by about 340,000 barrels, according to the sources, who spoke on condition of anonymity. - Middle distillates stocks at Fujairah Oil Zone hit a more than 10-month low of 1.421 million barrels for the week ended Feb. 27, according to industry information service S&P Global Commodity Insights. NEWS - Oil prices extended gains for a second session on Wednesday after a strong jump in manufacturing in China, the world's top crude importer, boosted the outlook for global fuel demand. - U.S. crude oil production fell in December to 12.10 million barrels per day (bpd), its lowest since August 2022, Energy Information Administration (EIA) data showed on Tuesday. - Premiums of marine fuel, also known as bunkers, are set for a bumpy recovery in March in Singapore, the world's largest bunkering port, as refuelling demand from the shipping sector has recently waned, multiple trade sources said. - China's CNOOC Ltd , has discovered a new oilfield with light crude reserves of 100 million tonnes in the Bohai Sea, which stretches along China's northern coastline, the company said on Wednesday. - The sale of gasoline and gasoil by Indian state refiners increased in February, compared to the previous month, preliminary sales data shows. India gasoline sales rose by 13.5%, while gasoil sales was up by 9.2% in February from the previous month, the data showed. - China's manufacturing activity expanded at the fastest pace in more than a decade in February, an official index showed on Wednesday, smashing expectations as production zoomed after the lifting of COVID-19 restrictions late last year.
PRICES
MID-DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC
Close
Spot Gas Oil 0.5% 100.83 2.29 2.32 98.54 GO 0.5 Diff -6.49 0 0.00 -6.49 Spot Gas Oil 0.25% 100.85 2.29 2.32 98.56 GO 0.25 Diff -6.47 0 0.00 -6.47 <GO25-SIN-DIF
>
Spot Gas Oil 0.05% 103.67 2.29 2.26 101.38 GO 0.05 Diff -3.65 0 0.00 -3.65 <GO005-SIN-DI
F>
Spot Gas Oil 0.001% 108.45 2.27 2.14 106.18 GO 0.001 Diff 1.13 -0.02 -1.74 1.15 <GO10-SIN-DIF
>
Spot Jet/Kero 106.33 1.97 1.89 104.36 Jet/Kero Diff 0.93 -0.1 -9.71 1.03 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 Varun H K)
