April 27, 2020 / 10:46 AM / a month ago

Asian jet fuel, gasoil cracks slump to record lows

April 27 (Reuters) - Asian refining profit margins for jet fuel and 10 ppm gasoil plunged to record lows on Monday as fuel demand continued to take a beating from the coronavirus.

Refining margins, also known as cracks, for jet fuel dropped to $4.87 a barrel below Dubai crude during Asian trading hours, Refinitiv Eikon data showed. They were at a discount of $1.98 per barrel to Dubai crude on Friday.

Cracks for the benchmark gasoil grade with 10 ppm sulphur content in Singapore slid to $2.83 a barrel over Dubai crude on Monday, the lowest on record in Refinitiv Eikon data that goes back to January 2014. They were at $5.27 a barrel on Friday.

Crude oil prices fell on Monday on concerns about scarce storage capacity and global economic doldrums from the coronavirus pandemic. (Reporting by Koustav Samanta; editing by Louise Heavens)

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