Asia Distillates-Markets little changed on thin activity; August jet fuel offers in full swing
SINGAPORE, July 16 (Reuters) -Asia's middle distillates markets recorded slightly slowing trading momentum in the physical markets, with prices also posting limited fluctuations as overall fundamentals were likely to remain weak in the near term.
Some traders are expecting the market to bounce back only in September, which explains the paper market structure for the time being where prompt months are in contango and forward remains in backwardation.
Fundamentals still look weak for prompt markets and this may extend into August, two sources said.
Markets were mixed on how China's August export plans would pan out, given that margins turned slightly shaky in the past two sessions after weakness in the international markets compared with local China wholesale prices.
Refining margins GO10SGCKMc1, however, recovered slightly as the weakness in crude futures outweighed declines in the paper market.
Cash differentials GO10-SIN-DIF gained again for a second consecutive session this week to a discount of 16 cents a barrel, with Trafigura still bidding in the open window.
Meanwhile ,for jet fuel, SK Energy offered one more spot cargo for August shipment in line with earlier expectations, with China oil major Rongsheng PC also in the market with two cargoes for early August.
Regrade JETREG10SGMc1 was little changed at the market's close of slightly above $1 a barrel, likewise the previous session.
SINGAPORE CASH DEALS O/AS
- No gasoil deal, one jet fuel deal
INVENTORIES
- U.S. crude stockpiles were likely to have risen while products inventories probably fell last week, a preliminary Reuters poll showed on Monday. EIA/S
REFINERY NEWS REF/OUT
- Indonesian state energy company Pertamina expects its Balikpapan refinery's CDU IV to resume operations later this month, an official at its refinery subholding PT Kilang Pertamina Internasional (KPI) said on Tuesday.
- Indian private oil refiner Nayara Energy is planning to shut a delayed coker and some other units at its refinery in Vadinar for maintenance for about three weeks from end-August or early September, three trading sources said.
NEWS
- Yemen's Houthis targeted three vessels, including an oil tanker, in the Red and Mediterranean seas with ballistic missiles, drones and booby-trapped boats, they said on Monday.
- Expectations U.S. interest rates will fall, preventing a hard landing for the economy, has kept investors bullish, although geopolitics pose the biggest risk to that scenario, the Bank of America's global fund manager survey showed on Tuesday.
- French oil major TotalEnergies TTEF.PA on Tuesday announced its second-quarter hydrocarbon production levels will hit the high end of its guidancerange while higher oil prices partially offset a slowdown in the gas business.
PRICES
MIDDLE DISTILLATES | ||||
CASH ($/BBL) | ASIA CLOSE | Change | Prev Close | RIC |
Spot Gas Oil 0.5% | 92.99 | -0.57 | 93.56 | GO-SIN |
GO 0.5 Diff | -6.32 | 0.03 | -6.35 | GO-SIN-DIF |
Spot Gas Oil 0.25% | 98.18 | -0.58 | 98.76 | GO25-SIN |
GO 0.25 Diff | -1.13 | 0.03 | -1.16 | GO25-SIN-DIF |
Spot Gas Oil 0.05% | 98.76 | -0.57 | 99.33 | GO005-SIN |
GO 0.05 Diff | -0.55 | 0.03 | -0.58 | GO005-SIN-DIF |
Spot Gas Oil 0.001% | 99.15 | -0.56 | 99.71 | GO10-SIN |
GO 0.001 Diff | -0.16 | 0.05 | -0.20 | GO10-SIN-DIF |
Spot Jet/Kero | 98.13 | -0.59 | 98.72 | JET-SIN |
Jet/Kero Diff | -0.11 | 0.02 | -0.13 | 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 Krishna Chandra Eluri
Últimas notícias
Isenção de Responsabilidade: As entidades do XM Group proporcionam serviço de apenas-execução e acesso à nossa plataforma online de negociação, permitindo a visualização e/ou uso do conteúdo disponível no website ou através deste, o que não se destina a alterar ou a expandir o supracitado. Tal acesso e uso estão sempre sujeitos a: (i) Termos e Condições; (ii) Avisos de Risco; e (iii) Termos de Responsabilidade. Este, é desta forma, fornecido como informação generalizada. Particularmente, por favor esteja ciente que os conteúdos da nossa plataforma online de negociação não constituem solicitação ou oferta para iniciar qualquer transação nos mercados financeiros. Negociar em qualquer mercado financeiro envolve um nível de risco significativo de perda do capital.
Todo o material publicado na nossa plataforma de negociação online tem apenas objetivos educacionais/informativos e não contém — e não deve ser considerado conter — conselhos e recomendações financeiras, de negociação ou fiscalidade de investimentos, registo de preços de negociação, oferta e solicitação de transação em qualquer instrumento financeiro ou promoção financeira não solicitada direcionadas a si.
Qual conteúdo obtido por uma terceira parte, assim como o conteúdo preparado pela XM, tais como, opiniões, pesquisa, análises, preços, outra informação ou links para websites de terceiras partes contidos neste website são prestados "no estado em que se encontram", como um comentário de mercado generalizado e não constitui conselho de investimento. Na medida em que qualquer conteúdo é construído como pesquisa de investimento, deve considerar e aceitar que este não tem como objetivo e nem foi preparado de acordo com os requisitos legais concebidos para promover a independência da pesquisa de investimento, desta forma, deve ser considerado material de marketing sob as leis e regulações relevantes. Por favor, certifique-se que leu e compreendeu a nossa Notificação sobre Pesquisa de Investimento não-independente e o Aviso de Risco, relativos à informação supracitada, os quais podem ser acedidos aqui.
