Refining margins for 10 ppm sulphur gasoil and jet fuel kicked off the week lower, with volatile crude futures and uncertainty on how northwest Europe fundamentals will pan out weighed.
Cash differentials , likewise, fell to $1.30 per barrel, with a handful of buyers still trying their luck with competitively-priced material.
SINGAPORE CASH DEALS - No gasoil or jet fuel deal.
TENDERS - Taiwan's CPC seeks light cycle oil for April
- South Korea's GS Caltex offers end-April gasoil
NEWS - Saudi Aramco signed an agreement with Chinese partners on Sunday for an oil refinery and petrochemical project in northeast China that is expected to start in 2026 to meet the country's growing demand for fuel and chemicals. - Australia's Ampol Ltd said on Monday it has temporarily ceased operating the fluidized catalytic cracking unit (FCCU) at its Lytton refinery in Queensland due to an issue with a slide valve. - Oil prices rose on Monday as investors assessed efforts by authorities to rein in worries about the global banking system, while Russian President Vladimir Putin's plans to place tactical nuclear weapons in Belarus ratcheted up tensions in Europe. - China's crude oil imports are expected to rise 6.2% in 2023 on last year's level to 540 million tonnes, according to an annual forecast by a research unit of China National Petroleum Corp (CNPC) on Monday. Crude oil throughput is seen growing by 7.8% to 733 million tonnes, according to the think tank.
- Saudi Aramco's Jizan refinery is set to increase output of ultra-low sulphur diesel (ULSD) and reduce exports of vacuum gasoil (VGO) as it ramps up production in the second quarter, industry sources said. - The TotalEnergies' 240,000 barrel-per-day (bpd) Gonfreville refinery, the company's largest refinery, has been stopped, a company spokesperson said, as the industrial action against the government's pension reforms continued.
PRICES
MID-DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC
Close
Spot Gas Oil 0.5% 91.15 -1.35 -1.46 92.5 GO 0.5 Diff -6.61 -0.08 1.23 -6.53 Spot Gas Oil 0.25% 90.7 -1.35 -1.47 92.05 GO 0.25 Diff -7.06 -0.08 1.15 -6.98 <GO25-SIN-DIF
>
Spot Gas Oil 0.05% 94.95 -1.35 -1.40 96.3 GO 0.05 Diff -2.81 -0.08 2.93 -2.73 <GO005-SIN-DI
F>
Spot Gas Oil 0.001% 99.05 -1.31 -1.31 100.36 GO 0.001 Diff 1.3 -0.03 -2.26 1.33 <GO10-SIN-DIF
>
Spot Jet/Kero 94.36 -1.92 -1.99 96.28 Jet/Kero Diff 0.42 -0.21 -33.33 0.63 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)
