Refining margins were broadly steady from the previous trading session at around $26 per barrel.
Cash differentials for 10ppm sulphur gasoil remained weighed on by persistently competitively-priced offers for second-half March and early April loading.
This was despite fresh estimates of China's gasoil exports for March and April at around 300,000 tonnes from a handful of trading participants.
Jet fuel refining margins , however, fell at a slightly quicker pace, resulting in a narrower regrade at a discount of $2.20 per barrel.
SINGAPORE CASH DEALS - No gasoil or jet fuel deal.
TENDERS - Taiwan's CPC Corp offers April-loading gasoil.
NEWS - Indonesia's state energy company Pertamina said on Friday its fuel supply remained secure after a fire at its storage station in the capital Jakarta. A spokesperson also told Reuters the company planned to divert the fuel supply for Jakarta from other terminals. The fuel station has a capacity of over 300,000 kilo-litres, according to the country's energy ministry. - Top crude exporter Saudi Arabia raised prices for the flagship Arab light crude it sells to Asia for a second month in April, to $2.50 a barrel above the Oman/Dubai average, Aramco said on Sunday night. - India raised its windfall tax on crude oil marginally while cutting the tax on exports of diesel, according to a government notification on Saturday. The windfall tax on crude was raised to 4,400 rupees ($53.87) per tonne from 4,350 rupees, effective immediately, while the tax on diesel export was cut to 0.5 rupees per litre from 1.5 rupees a litre. The government said it scrapped a windfall tax of 1.5 rupees a litre on aviation turbine fuel. - Oil prices slipped on Monday after China set a lower-than-expected target for economic growth this year at around 5%, and as investors cautiously awaited U.S. Federal Reserve Chair Jerome Powell's testimony this week. - The U.S. Energy Information Administration said on Friday that crude oil blending and under-reported oil output were key reasons for recently high adjustment figures in the weekly oil inventory data.
PRICES
MID-DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC
Close
Spot Gas Oil 0.5% 103.59 1.34 1.31 102.25 GO 0.5 Diff -6.36 0.05 -0.78 -6.41 Spot Gas Oil 0.25% 103.61 1.34 1.31 102.27 GO 0.25 Diff -6.34 0.05 -0.78 -6.39 <GO25-SIN-DIF
>
Spot Gas Oil 0.05% 106.43 1.34 1.28 105.09 GO 0.05 Diff -3.52 0.05 -1.40 -3.57 Spot Gas Oil 0.001% 110.66 1.11 1.01 109.55 GO 0.001 Diff 0.71 -0.18 -20.22 0.89 <GO10-SIN-DIF
>
Spot Jet/Kero 108.14 1.64 1.54 106.5 Jet/Kero Diff 0.86 0.18 26.47 0.68 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 Shailesh Kuber)
