Asia Distillates-Gasoil, jet fuel margins rise as crude prices ease

SINGAPORE, May 9 (Reuters) - Asia's 10ppm sulphur gasoil and jet fuel margins rose on Tuesday, supported by easing crude oil prices, and despite a dearth of trades at the physical window. Refining margins for 10ppm sulphur gasoil closed trading at $14.78 a barrel, higher than the previous session's close of $14.54 a barrel. Jet fuel refining margins strengthened to $14.65 a barrel, tracking gains in 10ppm sulphur gasoil. Cash differentials for 10ppm sulphur gasoil was little changed at minus 36 cents a barrel, from minus 35 cents a barrel in the previous session. Asia's regrade value was at minus 13 cents by the end of the trading session, compared with the previous session's close of minus 36 cents. SINGAPORE CASH DEALS - No gasoil deals or jet fuel deals.

INVENTORIES - U.S. crude oil stockpiles are expected to have fallen for a fourth consecutive week, a preliminary Reuters poll showed on Monday. Analysts estimated stockpiles of gasoline fell by about 1.3 million barrels last week, while distillate , which include diesel and heating oil, decreased by about 800,000 barrels. NEWS - Oil prices fell on Tuesday, relinquishing some of the strong gains of the previous two sessions with the market cautious ahead of U.S. inflation figures for April, which will be key to the Federal Reserve's next interest rate decision. - The United Arab Emirates' energy minister Suhail al-Mazrouei said on Tuesday that additional voluntary output cuts by the OPEC+ producer group were implemented to balance the oil market. - China's crude oil imports fell in April to the lowest level since January, customs data showed on Tuesday, as high inventories, refinery maintenance and a weaker domestic economic rebound weighed on demand. - India's fuel consumption eased in April from record highs seen the previous month, official data showed on Monday, but sales of diesel scaled a new peak indicating robust industrial activity in the world's third-biggest oil consumer.

PRICES MIDDLE
DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC Close
Spot Gas Oil 82.19 -0.17 -0.21 82.36 0.5%
GO 0.5 Diff -7.36 -0.03 0.41 -7.33 <GO-SIN-DI F> Spot Gas Oil 84.13 -0.17 -0.20 84.3 0.25%
GO 0.25 Diff -5.42 -0.03 0.56 -5.39 <GO25-SIN- DIF> Spot Gas Oil 88.4 -0.17 -0.19 88.57 <GO005-SIN 0.05% > GO 0.05 Diff -1.15 -0.03 2.68 -1.12 <GO005-SIN -DIF> Spot Gas Oil 89.19 -0.14 -0.16 89.33 0.001%
GO 0.001 Diff -0.36 -0.01 2.86 -0.35 <GO10-SIN- DIF> Spot Jet/Kero 90.51 0.17 0.19 90.34 Jet/Kero Diff 0.75 0.02 2.74 0.73 <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 Varun H K)

Reuters

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Asia Distillates-Gasoil, jet fuel margins rise as crude prices ease

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