SINGAPORE, Oct 5 (Reuters) - Asia's cash differentials for 10 ppm gasoil slipped on Monday, hurt by weaker buying interest for physical cargoes, but the prompt-month spread for the industrial fuel narrowed its contango structure. Cash differentials for gasoil with 10 ppm sulphur contentwere at a discount of 61 cents a barrel to Singapore quotes, compared with a discount of 56 cents a barrel on Friday. The October/November time spread for 10 ppm gasoil in Singapore traded at a discount of 50 cents per barrel, as against minus 60 cents a barrel at the end of last week. Refining profit margins for 10 ppm gasoil dropped 13 cents to $3.77 a barrel over Dubai crude during Asian trading hours as raw material crude prices firmed. WINTER KEROSENE DEMAND COLD COMFORT FOR JET FUEL MARKET - Asian refineries' profit margins for jet fuel have hit their highest levels in two months as demand for heating oil kerosene picked up before North Asia's winter, but analysts do not expect margins to fully recover until the coronavirus-hit aviation sector is back to normal. - Japan and South Korea have started stockpiling kerosene ahead of winter, trade sources said, with some weather models pointing to colder-than-normal temperatures in Japan at the turn of the year. - But with coronavirus travel curbs likely to continue to ground flights for months and analysts not expecting a meaningful rebound in demand until the second half of 2021, profits are likely to remain a fraction of long-term averages for now. SINGAPORE CASH DEALS - One jet fuel trade, no gasoil deals - Total sold 100,000 barrels of jet fuel to Vitol for Oct. 20-24 loading, at a discount of 50 cents a barrel to Singapore quotes. OTHER NEWS - Oil prices rose on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive coronavirus test sparked widespread alarm. ASSESSMENTS MID-DISTILLATES CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC Spot Gas Oil 0.5% 41.43 0.79 1.94 40.64 GO 0.5 Diff -1.90 0.03 -1.55 -1.93 Spot Gas Oil 0.25% 41.83 0.79 1.92 41.04 GO 0.25 Diff -1.50 0.03 -1.96 -1.53 Spot Gas Oil 0.05% 42.25 0.79 1.91 41.46 GO 0.05 Diff -1.08 0.03 -2.70 -1.11 Spot Gas Oil 0.001% 42.71 0.70 1.67 42.01 GO 0.001 Diff -0.61 -0.05 8.93 -0.56 Spot Jet/Kero 40.19 1.05 2.68 39.14 Jet/Kero Diff -0.69 0.14 -16.87 -0.83 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 Koustav Samanta; Editing by Subhranshu Sahu)
Our Standards: The Thomson Reuters Trust Principles.