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Energy

Asia Distillates-Crack falls on ample supplies

    SINGAPORE, Oct 23 (Reuters) - Asia's benchmark 10ppm diesel crack fell to a
three-week low of less than $3 a barrel on Friday as supplies weighed. 
    - Jet fuel cash differentials JET-SIN-DIF in the meantime remained at discounted levels
as air travel demand is not expected to make any major recovery for the remainder of the
year.  
    - Jet fuel inventories held independently at the Amsterdam-Rotterdam-Antwerp (ARA)
refining and storage hub hit a record high of about 1.09 million tonnes in the week to
Thursday, data from Dutch consultancy Insights Global showed.
    - This was 64.3% higher versus a year ago. 
    
    * AIR TRAVEL: Full-year 2020 passenger numbers in the Middle East (to/from/within) are
forecast to reach only 30% of the 2019 levels, down from the 45% projected in July, said the
International Air Transport Association (IATA)
    - A full return to 2019 levels were not expected until late 2024.
    
    * OTHER NEWS:  Shell plans to keep the small crude distillation unit (CDU) at the 211,146
barrel-per-day (bpd) Convent, Louisiana, refinery shut until sometime in 2021.
    
    * CASH DEALS: Three jet fuel deals but none on gasoil.

 MID-DISTILLATES                                                                             
 CASH ($/T)                     ASIA CLOSE      Change   % Change    Prev     RIC
                                                                     Close    
 Spot Gas Oil 0.5%                       42.29    -0.09       -0.21    42.38  GO-SIN
 GO 0.5 Diff                             -1.50     0.00        0.00    -1.50  GO-SIN-DIF
 Spot Gas Oil 0.25%                      42.69    -0.14       -0.33    42.83  GO25-SIN
 GO 0.25 Diff                            -1.10    -0.05        4.76    -1.05  GO25-SIN-DIF
 Spot Gas Oil 0.05%                      42.89    -0.14       -0.33    43.03  GO005-SIN
 GO 0.05 Diff                            -0.90    -0.05        5.88    -0.85  GO005-SIN-DIF
 Spot Gas Oil 0.001%                     43.24    -0.14       -0.32    43.38  GO10-SIN
 GO 0.001 Diff                           -0.55    -0.05       10.00    -0.50  GO10-SIN-DIF
 Spot Jet/Kero                           42.49     0.62        1.48    41.87  JET-SIN
 Jet/Kero Diff                           -0.60     0.30      -33.33    -0.90  JET-SIN-DIF
                                                                                             
 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 10ppm-Dubai Cracks M1                                                                
 Gasoil 10ppm-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 Seng Li Peng; Editing by Shailesh Kuber)
  
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