Likewise, jet fuel refining margins fell to $15.43 a barrel. Both products' cracks continued to be weighed by sufficient supply for May, amid lacklustre buying activities on the arbitrage front - although some buying from southeast Asia for prompt parcels was still present.
Cash differentials for 10 ppm sulphur gasoil fell to near a one-month low of 63 cents per barrel on continuously competitively priced offers for end-April and May parcels.
The weakness was slightly cushioned by some buying interest, as some buyers believed the current cash premiums to be close to bottom-out levels.
SINGAPORE CASH DEALS - One gasoil deal, no jet fuel deals.
TENDERS - Taiwan's FPCC offers May-loading gasoil.
- GS Caltex offers May-loading jet fuel.
- Vietnam's Petrolimex seeks prompt gasoil.
NEWS - State oil giant Saudi Aramco will supply full crude contract volumes loading in May to several North Asian buyers despite its pledge to cut output by 500,000 barrels per day, several sources with knowledge of the matter said on Monday.
- Oil steadied on Monday after rising for three straight weeks, as looming supply cuts from Saudi Arabia and other OPEC+ producers balanced concern about weakening global growth that may dampen fuel demand. - Growth in sales of China's passenger vehicles was flat in March from a year earlier, industry data showed on Monday, as more price cuts by auto brands and the rollout of incentives by local governments helped to support demand.
PRICES
MIDDLE DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC
Close
Spot Gas Oil 0.5% 94.84 -0.98 -1.02 95.82 GO 0.5 Diff -7.14 -0.12 1.71 -7.02 Spot Gas Oil 0.25% 94.39 -0.98 -1.03 95.37 GO 0.25 Diff -7.59 -0.12 1.61 -7.47 <GO25-SIN-DIF
>
Spot Gas Oil 0.05% 99.89 -0.98 -0.97 100.87 GO 0.05 Diff -2.09 -0.12 6.09 -1.97 <GO005-SIN-DI
F>
Spot Gas Oil 0.001% 102.6 -1.19 -1.15 103.79 GO 0.001 Diff 0.63 -0.32 -33.68 0.95 <GO10-SIN-DIF
>
Spot Jet/Kero 99.5 -0.74 -0.74 100.24 Jet/Kero Diff 0.19 -0.06 -24.00 0.25 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 Jan Harvey)
