There were talks of May-loading cargoes being available from South Korean refiners, but this could not be immediately verified. Cash differentials for 10 ppm sulphur gasoil rose to 95 cents a barrel.
On the jet fuel front, one refiner offered a May-loading cargo.
Regrade widened back to a discount of $2.14 a barrel as participants were still bearish about jet fuel fundamentals in comparison with gasoil.
SINGAPORE CASH DEALS - No gasoil or jet fuel deal.
INVENTORIES - U.S. crude oil stockpiles fell more than expected last week due to strong export and refining demand, the Energy Information Administration said on Wednesday. Gasoline and distillate inventories also drew down sharply, signalling rising demand just days after Saudi Arabia and other OPEC+ oil producers announced further output cuts of around 1.16 million barrels per day (bpd). - Stock levels of middle distillates in storage at key trading hub Singapore fell for the first time in a month to 9.009 million barrels in the week of April 5, official data from Enterprise Singapore showed on Thursday. NEWS - Saudi Arabia, the world's top oil exporter, has raised the prices of its flagship crude for Asian buyers for the third straight month. The official selling price (OSP) for May-loading Arab Light to Asia was raised by 30 cents a barrel from April to $2.80 a barrel over Oman/Dubai quotes. - Global fuel suppliers are turning to longer and costlier routes that produce more carbon emissions to move their diesel and other products as Western restrictions on Russian cargoes have reshuffled global energy shipping patterns. - Indonesia, the world's biggest palm oil biodiesel user, is now working to introduce bioethanol mandates for gasoline to further cut fuel imports and carbon emissions, but it will first have to secure more bio feedstock and solve thorny technical problems.
PRICES
MIDDLE DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC
Close
Spot Gas Oil 0.5% 95.82 1.08 1.14 94.74 GO 0.5 Diff -7.02 0.07 -0.99 -7.09 Spot Gas Oil 0.25% 95.37 1.08 1.15 94.29 GO 0.25 Diff -7.47 0.07 -0.93 -7.54 <GO25-SIN-DIF
>
Spot Gas Oil 0.05% 100.87 1.07 1.07 99.8 GO 0.05 Diff -1.97 0.07 -3.43 -2.04 <GO005-SIN-DI
F>
Spot Gas Oil 0.001% 103.79 1.08 1.05 102.71 GO 0.001 Diff 0.95 0.07 7.95 0.88 <GO10-SIN-DIF
>
Spot Jet/Kero 100.24 0.34 0.34 99.9 Jet/Kero Diff 0.25 -0.09 -26.47 0.34 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 Subhranshu Sahu)
