Asia Distillates-Gasoil, jet fuel margins post first weekly gain in seven

SINGAPORE, May 5 (Reuters) - Asia's 10-ppm sulphur gasoil margins and jet fuel margins posted their first weekly gains in seven on Friday, supported by weaker crude prices, even as demand sentiment remained weak.

Refining margins for 10ppm sulphur gasoil closed trading at $14.50 a barrel, higher than the previous session's close of $13.46 a barrel. Jet fuel refining margins strengthened to $14.25 a barrel, tracking gains in 10ppm sulphur gasoil. Cash differentials for 10ppm sulphur gasoil rose to minus 27 cents a barrel, from minus 31 cents a barrel in the previous session. Asia's regrade value was at minus 25 cents by the end of the trading session, compared with the previous session's close of minus 12 cents. Global supply continues to outstrip demand, with Asian barrels finding limited opportunities to pivot out of the region, amid sluggish European demand, said Refinitiv Oil Research in a monthly report.

SINGAPORE CASH DEALS - Four gasoil deals, no jet fuel deals.

INVENTORIES - Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area rose by 5% to a two-year high at about 2.36 million tonnes in the week to Thursday, data from Dutch consultancy Insights Global showed. NEWS - Oil prices rose on Friday but were poised for a third straight week of losses after markets registered dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand. - Russia is expected to increase seaborne oil exports from its western ports this month to a four-year high to meet Asian demand for low-priced oil, two sources familiar with the loading plans from the ports said.

PRICES MIDDLE
DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC Close
Spot Gas Oil 79.45 1.59 2.04 77.86 0.5%
GO 0.5 Diff -7.31 0.1 -1.35 -7.41 <GO-SIN-DI F> Spot Gas Oil 81.4 3.99 5.15 77.41 0.25%
GO 0.25 Diff -5.37 2.49 -31.68 -7.86 <GO25-SIN- DIF> Spot Gas Oil 85.66 2.75 3.32 82.91 <GO005-SIN 0.05% > GO 0.05 Diff -1.1 1.26 -53.39 -2.36 <GO005-SIN -DIF> Spot Gas Oil 86.49 1.53 1.80 84.96 0.001%
GO 0.001 Diff -0.27 0.04 -12.90 -0.31 <GO10-SIN- DIF> Spot Jet/Kero 87.38 1.44 1.68 85.94 Jet/Kero Diff 0.67 0.09 15.52 0.58 <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 Eileen Soreng)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

Asia Distillates-Gasoil, jet fuel margins post first weekly gain in seven

By Reuters

Reuters

Reuters

Ex-Fed insider warns of systemic 'liquidity crisis,' sees gold sell-off as a major 'distress signal'

Why gold revaluation charts put prices at $25,000-$55,000 if history rhymes, silver poised for breakout: Crescat Capital Strategist

Gold and silver see worst one-day drop in years, but long-term uptrend remains solid - Experts

Strong price pressure on gold, silver amid extreme volatility

It’s time to take profits on gold and silver, but ‘this is the trifecta I’m watching’ - Marketgauge’s Schneider