Asia Distillates-Upbeat trading resumes; Trafigura back with buying action
SINGAPORE, Aug 15 (Reuters) -Asia's middle distillates markets returned to a slightly more upbeat state, as spot activity picked up in the trading window and more sellers emerged with September sales, but a lack of paper activity limited trading momentum.
Trafigura resumed its buying spree for end-August and early September spot cargoes at 20 cents per barrel discounts, similar to earlier prices they bought in the past two weeks.
Meanwhile, at least two more refiners offered September cargoes for sale - with most cargoes still being sold at discounts.
Refining margins GO10SGCKMc1 for the fuel fell back down to $16 a barrel, erasing gains in the past two trading sessions.
Spot discounts GO10-SIN-DIF barely moved and closed the trading session at around 18 cents a barrel, after Trafigura bought more cargoes.
So far they have bought 600,000 barrels of end-August to early September loading cargoes
For jet fuel markets, Japan-based buyers continued to sweep up September-loading cargoes on offer, according to several trading sources, though expectations were mixed on whether they would continue their buying spree further.
August refining output should be higher than July and that should help with local production, one source said.
July imports of the aviation fuel to the country hit a five-month high, Kpler and LSEG shiptracking data showed.
Regrade JETREG10SGMc1 remained at nearly discounts of around 90 cents per barrel.
SINGAPORE CASH DEALS O/AS
- One gasoil deal, no jet fuel deal.
INVENTORIES
- Singapore's middle distillates stock levels edged up for a third straight week, hitting above the 12 million barrel mark, as the decline in jet fuel/kerosene net exports offset gains in diesel/gasoil net exports, official data showed on Thursday. O/SING1
- U.S. crude oil stockpiles rose unexpectedly last week, building for the first time since late June, while gasoline and distillate inventories fell more than forecast, the Energy Information Administration (EIA) said on Wednesday. EIA/S
NEWS
- China's oil refinery output in July fell 6.1% from a year earlier, official data showed on Thursday, down for a fourth month as thin processing margins and tepid fuel demand discouraged production.
- Global jet fuel demand is poised to soften as a slowdown in consumer spending hits travel budgets, a shift that could weigh on oil prices in the months ahead.
PRICES
MIDDLE DISTILLATES | ||||
CASH ($/BBL) | ASIA CLOSE | Change | Prev Close | RIC |
Spot Gas Oil 0.5% | 88.31 | -0.94 | 89.25 | GO-SIN |
GO 0.5 Diff | -6.34 | 0.00 | -6.34 | GO-SIN-DIF |
Spot Gas Oil 0.25% | 93.66 | -0.94 | 94.60 | GO25-SIN |
GO 0.25 Diff | -0.99 | 0.00 | -0.99 | GO25-SIN-DIF |
Spot Gas Oil 0.05% | 92.88 | -0.94 | 93.82 | GO005-SIN |
GO 0.05 Diff | -1.77 | 0.00 | -1.77 | GO005-SIN-DIF |
Spot Gas Oil 0.001% | 94.47 | -0.95 | 95.42 | GO10-SIN |
GO 0.001 Diff | -0.18 | -0.01 | -0.17 | GO10-SIN-DIF |
Spot Jet/Kero | 93.32 | -1.04 | 94.36 | JET-SIN |
Jet/Kero Diff | -0.37 | -0.05 | -0.32 | 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 Trixie Yap; Editing by Janane Venkatraman
Últimas noticias
Descargo de responsabilidades: Cada una de las entidades de XM Group proporciona un servicio de solo ejecución y acceso a nuestra plataforma de trading online, permitiendo a una persona ver o usar el contenido disponible en o a través del sitio web, sin intención de cambiarlo ni ampliarlo. Dicho acceso y uso están sujetos en todo momento a: (i) Términos y Condiciones; (ii) Advertencias de riesgo; y (iii) Descargo completo de responsabilidades. Por lo tanto, dicho contenido se proporciona exclusivamente como información general. En particular, por favor tenga en cuenta que, los contenidos de nuestra plataforma de trading online no son ni solicitud ni una oferta para entrar a realizar transacciones en los mercados financieros. Operar en cualquier mercado financiero implica un nivel de riesgo significativo para su capital.
Todo el material publicado en nuestra plataforma de trading online tiene únicamente fines educativos/informativos y no contiene –y no debe considerarse que contenga– asesoramiento ni recomendaciones financieras, tributarias o de inversión, ni un registro de nuestros precios de trading, ni una oferta ni solicitud de transacción con instrumentos financieros ni promociones financieras no solicitadas.
Cualquier contenido de terceros, así como el contenido preparado por XM, como por ejemplo opiniones, noticias, investigaciones, análisis, precios, otras informaciones o enlaces a sitios de terceros que figuran en este sitio web se proporcionan “tal cual”, como comentarios generales del mercado y no constituyen un asesoramiento en materia de inversión. En la medida en que cualquier contenido se interprete como investigación de inversión, usted debe tener en cuenta y aceptar que dicho contenido no fue concebido ni elaborado de acuerdo con los requisitos legales diseñados para promover la independencia en materia de investigación de inversiones y, por tanto, se considera como una comunicación comercial en virtud de las leyes y regulaciones pertinentes. Por favor, asegúrese de haber leído y comprendido nuestro Aviso sobre investigación de inversión no independiente y advertencia de riesgo en relación con la información anterior, al que se puede acceder aquí.
