February 26, 2019 / 11:07 AM / 7 months ago

Asia Distillates-Jet fuel refining margins inch down, cash discount narrows

    SINGAPORE, Feb 26 (Reuters) - Asian refining margins for jet fuel inched lower on Tuesday,
while cash differentials for the aviation fuel were buoyed by a firm deal in the physical
market.
    Refining margins or cracks for jet fuel slipped two cents to $14.09 a barrel
over Dubai crude during Asian trading hours. 
    Cash discounts for jet fuel JET-SIN-DIF were at 26 cents a barrel to Singapore quotes on
Tuesday, compared with Monday's discounts of 30 cents a barrel.
    Meanwhile, cash differentials for 10 ppm gasoil GO10-SIN-DIF narrowed their discounts for
a fifth consecutive session to be at 17 cents a barrel to Singapore quotes on Tuesday, as
against a 24-cents discount a day earlier.
    Refining cracks for gasoil with 10ppm sulphur content rose to $15.89 a barrel
over Dubai crude, up from $15.64 a barrel on Monday.

    
    SINGAPORE CASH DEALS
    - Two gasoil deals, one jet fuel trade.
    - Singapore trader Hin Leong sold 180,000 barrels of 10ppm gasoil to Vitol for March 22-26
loading, at a discount of 10 cents a barrel to Singapore quotes.
    - Hin Leong bought 150,000 barrels of 2500ppm gasoil from Zenrock for March 13-17 loading,
at a discount of $1.90 a barrel to Singapore quotes.
    - Hin Leong also bought 100,000 barrels jet fuel from Zenrock for March 15-19 loading, at a
discount of 20 cents a barrel to Singapore quotes.
    - For more information, please click   
    
    
    OTHER NEWS
    - Brent oil edged up to $65 a barrel on Tuesday as Saudi Arabia and the rest of OPEC were
expected to stick to their policy of cutting production, despite renewed pressure from U.S.
President Donald Trump.
    - Indonesia's state energy firm Pertamina and Malaysia's Petronas have signed an agreement
to increase business cooperation, including by swapping crude and exploring investment
opportunities, Pertamina said on Tuesday.
    - Russia remained China's largest crude oil supplier in January, with imports rising 25
percent year on year to hold off rival Saudi Arabia, Chinese customs data showed on Monday.
    Imports from Russia - China's top supplier for the past three years - stood at 6.97 million
tonnes, or 1.64 million barrels per day (bpd) last month, compared with 1.31 million bpd in
January last year and 1.66 million bpd in December, according to Reuters calculations based on
data from the General Administration of Customs.

    
    ASSESSMENTS    
 MID-DISTILLATES                                                                           
 CASH ($/T)             ASIA CLOSE         Change   % Change    Prev Close  RIC
 Spot Gas Oil 0.5%                  77.82    -2.08       -2.60       79.90  GO-SIN
 GO 0.5 Diff                        -2.40     0.01       -0.41       -2.41  GO-SIN-DIF
 Spot Gas Oil 0.25%                 78.32    -2.07       -2.57       80.39  GO25-SIN
 GO 0.25 Diff                       -1.90     0.02       -1.04       -1.92  GO25-SIN-DIF
 Spot Gas Oil 0.05%                 79.18    -2.08       -2.56       81.26  GO005-SIN
 GO 0.05 Diff                       -1.04     0.01       -0.95       -1.05  GO005-SIN-DIF
 Spot Gas Oil 0.001%                80.05    -2.03       -2.47       82.08  GO10-SIN
 GO 0.001 Diff                      -0.17     0.07      -29.17       -0.24  GO10-SIN-DIF
 Spot Jet/Kero                      78.22    -2.31       -2.87       80.53  JET-SIN
 Jet/Kero Diff                      -0.26     0.04      -13.33       -0.30  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 Emelia Sithole-Mtaarise)
  
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