Asia Distillates-Gasoil refining margins rise as Singapore inventories shrink

Kitco Media
By Reuters
Published:
Updated:
Reuters
SINGAPORE, May 4 (Reuters) - Asia's 10ppm sulphur gasoil and jet fuel margins rose on Thursday as inventory stockpiles in the Singapore hub fell to a two-month low. Refining margins for 10ppm sulphur gasoil closed trading at $13.46 a barrel, higher than the previous session. Jet fuel refining margins strengthened to $13.34 a barrel, tracking gains in 10ppm sulphur gasoil. Cash differentials for 10ppm sulphur gasoil fell to minus 31 cents a barrel, down from minus 26 cents a barrel in the previous session. Asia's regrade value was at minus 12 cents by the end of the trading session, compared with the previous session's close of minus 28 cents.


SINGAPORE CASH DEALS - No gasoil deals or jet fuel deals.


INVENTORIES - U.S. crude oil inventories fell for a third week in a row, while gasoline stockpiles unexpectedly rose last week as demand weakened, the Energy Information Administration said on Wednesday. Distillate stockpiles , which include diesel and heating oil, also fell by 1.2 million barrels to 110.3 million barrels, versus expectations for a 1.1 million-barrel drop, the EIA data showed. - Inventories of middle distillates in storage at key trading hub Singapore edged lower as gasoil imports fell week-on-week, official data showed on Thursday. NEWS - Oil prices rose on Thursday but were unable to claw back much of this week's more than 8% decline as demand concerns in major consuming countries continued to weigh. - Global gas markets are gradually rebalancing but are expected to remain tight in 2023 amid lower Russian pipeline gas deliveries to Europe, the International Energy Agency (IEA) said on Thursday.


PRICES MIDDLE
DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC Close
Spot Gas Oil 77.86 0.53 0.69 77.33 0.5%
GO 0.5 Diff -7.41 0.04 -0.54 -7.45 <GO-SIN-DI F> Spot Gas Oil 77.41 0.53 0.69 76.88 0.25%
GO 0.25 Diff -7.86 0.04 -0.51 -7.9 <GO25-SIN- DIF> Spot Gas Oil 82.91 0.53 0.64 82.38 <GO005-SIN 0.05% > GO 0.05 Diff -2.36 0.04 -1.67 -2.4 <GO005-SIN -DIF> Spot Gas Oil 84.96 0.45 0.53 84.51 0.001%
GO 0.001 Diff -0.31 -0.05 19.23 -0.26 <GO10-SIN- DIF> Spot Jet/Kero 85.94 0.55 0.64 85.39 Jet/Kero Diff 0.58 -0.01 -1.69 0.59 <JET-SIN-D IF>
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 Matthew Chye; Editing by Devika Syamnath)

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