Asia Distillates-Gasoil cash differentials inch higher

    SINGAPORE, Sept 10 (Reuters) - Asia's cash discounts for 10 ppm gasoil narrowed marginally
on Thursday, after weekly middle distillate inventories in Singapore dropped from a multi-year
high hit last week.
    Cash discounts for 10 ppm gasoil GO10-SIN-DIF were at 67 cents a barrel to Singapore
quotes on Thursday, compared with a discount of 70 cents a day earlier.
    The September/October time-spread for the benchmark gasoil grade in Singapore
remained in a contango structure to trade at a discount of 63 cents a barrel, Refinitiv Eikon
data showed.
    Refining profit margins for 10 ppm gasoil climbed by $1.10 to $3.67 a barrel
over Dubai crude during Asian trading hours, buoyed by weaker raw material crude prices on
    - Singapore's middle distillate inventories dropped 6.1% to 15.1 million barrels in the week
ended Sept. 9, down from a more than nine-year high in the previous week, Enterprise Singapore
data showed.
    - Weekly Singapore middle distillate inventories have averaged about 13.2 million barrels so
far in 2020, Reuters calculations showed. This week's stocks were 35.9% higher year on year.
    - U.S. distillate stockpiles rose by 2.3 million barrels, compared with expectations for a
draw of 557,000 barrels, data from industry group the American Petroleum Institute showed on
    - India's fuel demand slipped in August, posting the biggest monthly decline since April, as
a surge in coronavirus infections continue to throttle economic activity and transportation,
government data showed on Wednesday.
    - The country's diesel consumption, a key parameter linked to economic growth and accounts
for about 40% of overall refined fuel sales in India, fell by about 12% to 4.85 million tonnes
last month from 5.51 million tonnes in July.
    - India's Mangalore Refinery and Petrochemicals Ltd (MRPL) has offered 65,000 tonnes of
10ppm gasoil for Oct. 3-5 loading from the port of New Mangalore. The tender closes on Sept. 15
and has a same-day validity.
    - MRPL has sold a similar cargo for mid-September loading to a buyer in Europe, a trade
source said.       
    - No gasoil deals, no jet fuel trades

    - A stalled global economic recovery from the coronavirus crisis is leading to a fresh
build-up of global oil supplies, pushing traders including Trafigura to book tankers to store
millions of barrels of crude oil and refined fuels at sea again.
 CASH ($/T)            ASIA CLOSE       Change   % Change   Prev Close  RIC
 Spot Gas Oil 0.5%               41.13     0.13       0.32       41.00  GO-SIN
 GO 0.5 Diff                     -2.23     0.02      -0.89       -2.25  GO-SIN-DIF
 Spot Gas Oil 0.25%              41.37     0.13       0.32       41.24  GO25-SIN
 GO 0.25 Diff                    -1.99     0.02      -1.00       -2.01  GO25-SIN-DIF
 Spot Gas Oil 0.05%              41.68     0.15       0.36       41.53  GO005-SIN
 GO 0.05 Diff                    -1.68     0.04      -2.33       -1.72  GO005-SIN-DIF
 Spot Gas Oil 0.001%             42.69     0.14       0.33       42.55  GO10-SIN
 GO 0.001 Diff                   -0.67     0.03      -4.29       -0.70  GO10-SIN-DIF
 Spot Jet/Kero                   36.78     0.28       0.77       36.50  JET-SIN
 Jet/Kero Diff                   -1.20     0.05      -4.00       -1.25  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 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 Sherry Jacob-Phillips)