Offers remained aplenty for northeast Asian May-loading parcels, with one Japanese refiner selling at least one cargo each of 10ppm sulphur gasoil and jet fuel. Jet fuel refining margins were nearly steady day-on-day at $13.88 a barrel, although week-on-week losses were at 14.7%.
Regrade likewise were almost unchanged day-on-day at minus $1.30 a barrel.
SINGAPORE CASH DEALS - No gasoil deal, two jet fuel deals.
INVENTORIES - Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area fell by more than 1% in the week to Thursday, data from Dutch consultancy Insights Global showed on Thursday. NEWS - Qatar Energy set the term price for cargoes of al-Shaheen oil loading in June at a higher level than for May, indicating stronger demand for crude for the summer amid tightening supply after producers agreed to cut output. - Kuwait's recently opened Al Zour refinery has stopped offering very low-sulphur fuel oil (VLSFO) tenders amid a partial shutdown at the complex, trade sources said. - Several Asian refiners are likely to maximise gasoline output from May and reduce gasoil output, cashing in on higher profits for the motor fuel ahead of the peak summer driving season, industry sources and analysts say. - Sales of marine fuel, also known as bunker fuel, recovered at top refuelling hub Singapore in March as vessel calls for bunkering reached more than two-year highs, official data showed Friday.
- Middle East spot crude prices are climbing on expectations of tighter supplies ahead of peak fuel demand in the northern summer, squeezing Asian refiners' margins and prompting them to secure supplies from other regions, traders and analysts said.
PRICES
MIDDLE DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC
Close
Spot Gas Oil 0.5% 93.51 -0.91 -0.96 94.42 GO 0.5 Diff -7.12 0.2 -2.73 -7.32 Spot Gas Oil 0.25% 93.06 -0.91 -0.97 93.97 GO 0.25 Diff -7.57 0.2 -2.57 -7.77 <GO25-SIN-DIF
>
Spot Gas Oil 0.05% 98.56 -0.91 -0.91 99.47 GO 0.05 Diff -2.07 0.2 -8.81 -2.27 <GO005-SIN-DI
F>
Spot Gas Oil 0.001% 100.95 -0.99 -0.97 101.94 GO 0.001 Diff 0.33 0.13 65.00 0.2 <GO10-SIN-DIF
>
Spot Jet/Kero 99.36 -0.97 -0.97 100.33 Jet/Kero Diff 0.37 0.16 76.19 0.21 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 Shilpi Majumdar)
