December 3, 2019 / 11:07 AM / 4 days ago

Asia Distillates-Gasoil premiums climb on demand uptick for physical cargoes

    SINGAPORE, Dec 3 (Reuters) - Asia's cash premiums for 10ppm
gasoil jumped for a second consecutive session on Tuesday,
climbing to a two-week high, buoyed by firmer buying interest in
the physical market and expectations for tighter short-term
    Cash premiums for gasoil with 10 ppm sulphur content
GO10-SIN-DIF rose to 34 cents a barrel to Singapore quotes, a
level not seen since Nov. 18. They were at a premium of 19 cents
a barrel on Monday.
    The prompt-month time spread for 10 ppm gasoil
, which has remained in backwardation since July,
widened on Tuesday to trade at a premium of 40 cents a barrel,
Refinitiv Eikon data showed.
    Refining margins or cracks for 10 ppm gasoil
slipped 14 cents to $15.11 a barrel over Dubai crude during
Asian trade on Tuesday.
    Meanwhile, jet fuel cracks were at $14.78 per
barrel over Dubai crude on Tuesday, compared with $14.91 a
barrel on Monday.
    Cash differentials for jet fuel JET-SIN-DIF narrowed their
discounts to 31 cents per barrel to Singapore quotes on Tuesday,
compared with a discount of 36 cents per barrel a day earlier.

    - One 10ppm gasoil trade, one jet fuel deal.
    - Unipec bought 150,000 barrels of 10 ppm gasoil from Vitol
for Dec. 21-25 loading at a premium of 35 cents a barrel to the
balance of December Singapore quotes.
    - Unipec sold 100,000 barrels of jet fuel to Vitol for Dec.
22-26 loading at a discount of 30 cents a barrel to the balance
of December Singapore quotes.
    - For more information, please click
    - China is building more coal-fired power plants and
approving dozens of new mines, despite assurances from the
world's biggest greenhouse gas emitter that it was serious about
fighting climate change.
    - Oil prices edged higher on Tuesday, as hopes rose for OPEC
and its allies to agree to deeper output cuts when they meet
this week, although gains were limited, amid some analysts'
scepticism over the achievement of further reductions.
    - U.S. oil producers could expand daily output by 1 million
barrels next year, or by as little as 100,000 barrels, with the
wide gap creating huge uncertainty as OPEC officials gather this
week to weigh production curbs.
 CASH ($/T)             ASIA CLOSE       Change   % Change   Prev Close  RIC
 Spot Gas Oil 0.5%                71.68     0.09       0.13       71.59  GO-SIN
 GO 0.5 Diff                      -3.10     0.12      -3.73       -3.22  GO-SIN-DIF
 Spot Gas Oil 0.25%               72.29     0.09       0.12       72.20  GO25-SIN
 GO 0.25 Diff                     -2.49     0.12      -4.60       -2.61  GO25-SIN-DIF
 Spot Gas Oil 0.05%               74.50     0.02       0.03       74.48  GO005-SIN
 GO 0.05 Diff                     -0.28     0.05     -15.15       -0.33  GO005-SIN-DIF
 Spot Gas Oil 0.001%              75.12     0.11       0.15       75.01  GO10-SIN
 GO 0.001 Diff                     0.34     0.15      78.95        0.19  GO10-SIN-DIF
 Spot Jet/Kero                    73.78     0.02       0.03       73.76  JET-SIN
 Jet/Kero Diff                    -0.31     0.05     -13.89       -0.36  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 Maju Samuel)
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