SINGAPORE, Oct 2 (Reuters) - Asian refining margins for 10 ppm gasoil slipped on Friday despite weaker feedstock crude prices, weighed down by lacklustre demand amid surging COVID-19 cases in several markets and expectations for higher Chinese exports for the remainder of this year. Refining profit margins, also known as cracks, for 10 ppm gasoil eased to $3.90 a barrel over Dubai crude during Asian trade on Friday, down from $3.93 per barrel a day earlier. China is expected to increase its gasoil exports for the rest of 2020 as refiners would try to exhaust their export quotas for the year, adding more to the available supplies in the region, trade sources said. China's gasoil exports in September stood at a five-month high of 1.72 million tonnes, up from 1.09 million tonnes in August, Refinitiv oil research assessments showed. "Diesel cracks are already reeling from the massive oversupply in the market. Any further rise in exports from China, South Korea and India will certainly weigh further on regional diesel cracks," said Serena Huang, Asia lead analyst at oil analytics firm Vortexa. Cash differentials for gasoil with 10 ppm sulphur contentwere at a discount of 56 cents a barrel to Singapore quotes on Friday, compared with a 58-cent discount on Thursday. ARA STOCKS - Gasoil stocks held independently in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub slipped 0.7% to 2.8 million tonnes in the week to Oct. 1, data from Dutch consultancy Insights Global showed. - The data showed ARA jet fuel inventories rose 0.7% to 945,000 tonnes. - Compared with a year earlier, ARA gasoil inventories were up 0.5%, while jet fuel stocks were about 48% higher. TENDERS - India's Mangalore Refinery and Petrochemicals Ltd (MRPL) was offering 65,000 tonnes of 10ppm gasoil for Nov. 1-3 loading from the port of New Mangalore. The tender closes on Oct. 8 and has a same-day validity. SINGAPORE CASH DEALS - Two jet fuel trades, no gasoil deals - Vitol bought two separate cargoes of 150,000 barrels of jet fuel each from CAO for Oct. 17-21 loading, at a discount of 80 cents a barrel to Singapore quotes. OTHER NEWS - Oil prices extended losses to about 3% on Friday after U.S. President Donald Trump said he has tested positive for COVID-19, while agreement on a U.S. stimulus package eluded negotiators amid ongoing worries about demand. ASSESSMENTS MID-DISTILLATES CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC Spot Gas Oil 0.5% 40.64 -2.32 -5.40 42.96 GO 0.5 Diff -1.93 0.02 -1.03 -1.95 Spot Gas Oil 0.25% 41.04 -2.32 -5.35 43.36 GO 0.25 Diff -1.53 0.02 -1.29 -1.55 Spot Gas Oil 0.05% 41.46 -2.32 -5.30 43.78 GO 0.05 Diff -1.11 0.02 -1.77 -1.13 Spot Gas Oil 0.001% 42.01 -2.32 -5.23 44.33 GO 0.001 Diff -0.56 0.02 -3.45 -0.58 Spot Jet/Kero 39.14 -2.52 -6.05 41.66 Jet/Kero Diff -0.83 0.04 -4.60 -0.87 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 Krishna Chandra Eluri)
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