Asia Distillates-Gasoil steady, jet fuel firms slightly
SINGAPORE, Nov 28 (Reuters) -Asia's gasoil market was largely stable on Thursday amid thin trade, while jet fuel logged mild gains amid higher-priced bids for December loading dates.
The cash premium for 10ppm sulphur gasoil continued to hold near 50 cents a barrel, largely rangebound in recent sessions.
Singapore's middle distillates inventories advanced for a fifth straight week to their highest in seven weeks, led by limited gasoil exports.
Meanwhile, the refining margin for gasoil GO10-SIN-DIF continued to trek softer, sliding towards levels near $15.50 a barrel, per LSEG data at Asia close (0830 GMT).
As for jet fuel, the market's cash premium inched higher as bids firmed for December-loading parcels.
SINGAPORE CASH DEALS O/AS
- No gasoil deal, no jet fuel deal.
INVENTORIES
- Singapore's middle distillates inventories climbed for a fifth straight week to 10.37 million barrels, holding at a seven-week high, official data showed. O/SING1
NEWS
- Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if U.S. President-elect Donald Trump imposes 25% tariffs on crude imports from the two countries, traders and analysts said.
- The OPEC+ alliance of oil-producing countries has postponed its next meeting on output policy to Dec. 5 from Dec. 1 to avoid a conflict with another event, OPEC said on Thursday.
- United Arab Emirates state oil group ADNOC on Wednesday announced the launch of XRG, an investment company focusing on lower-carbon energy and chemicals, valued at more than $80 billion.
PRICES
MIDDLE DISTILLATES | ||||
CASH ($/T) | ASIA CLOSE | Change | Prev Close | RIC |
Spot Gas Oil 0.5% | 81.10 | -0.99 | 82.09 | GO-SIN |
GO 0.5 Diff | -5.74 | 0.01 | -5.75 | GO-SIN-DIF |
Spot Gas Oil 0.25% | 87.20 | -0.99 | 88.19 | GO25-SIN |
GO 0.25 Diff | 0.36 | 0.01 | 0.35 | GO25-SIN-DIF |
Spot Gas Oil 0.05% | 87.33 | -0.99 | 88.32 | GO005-SIN |
GO 0.05 Diff | 0.49 | 0.01 | 0.48 | GO005-SIN-DIF |
Spot Gas Oil 0.001% | 87.36 | -0.99 | 88.35 | GO10-SIN |
GO 0.001 Diff | 0.52 | 0.01 | 0.51 | GO10-SIN-DIF |
Spot Jet/Kero | 87.51 | -0.95 | 88.46 | JET-SIN |
Jet/Kero Diff | 0.21 | 0.06 | 0.15 | JET-SIN-DIF |
For a list of derivatives prices, including margins, please double click the RICs below. | ||||
Brent M1 | BRENTSGMc1 | |||
Gasoil M1 | GOSGSWMc1 | |||
Gasoil M1/M2 | GOSGSPDMc1 | |||
Gasoil M2 | GOSGSWMc2 | |||
Regrade M1 | JETREGSGMc1 | |||
Regrade M2 | JETREGSGMc2 | |||
Jet M1 | JETSGSWMc1 | |||
Jet M1/M2 | JETSGSPDMc1 | |||
Jet M2 | JETSGSWMc2 | |||
Gasoil 500ppm-Dubai Cracks M1 | GOSGCKMc1 | |||
Gasoil 500ppm-Dubai Cracks M2 | GOSGCKMc2 | |||
Jet Cracks M1 | JETSGCKMc1 | |||
Jet Cracks M2 | JETSGCKMc2 | |||
East-West M1 | LGOAEFSMc1 | |||
East-West M2 | LGOAEFSMc2 | |||
LGO M1 | LGOAMc1 | |||
LGO M1/M2 | LGOASPDMc1 | |||
LGO M2 | LGOAMc2 | |||
Crack LGO-Brent M1 | LGOACKMc1 | |||
Crack LGO-Brent M2 | LGOACKMc2 | |||
Reporting by Jeslyn Lerh; Editing by Savio D'Souza
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