Asia Distillates — Diesel cash premiums near four — month low; Nov refiner sales upbeat
SINGAPORE, Oct 15 (Reuters) — Asia's diesel cash premiums slipped further to nearly four-month lows, though window spot activity picked up and more November refiner sales were underway. More spot offers emerged from northeast Asia, with Taiwan's FPCC offering second-half November shipments for both 10ppm sulphur and 500ppm sulphur gasoil. MDIS/TENDA Meanwhile, the east-west price spread closed the trading session at nearly $180 per ton, though cargo flows on this trade route have yet to surface for end-Oct or November shipments. However, swing barrels could still head west in the near term, with the arbitrage window widening this week, according to some analysts' expectations. Refining margins fell to $65.74 a barrel, giving back some of the previous session gains. Cash differentials extended losses and closed at $1 a barrel, the lowest level since end-June. Jet fuel spot offers from refiners were slightly more muted in comparison with gasoil, against a backdrop of thin window trading activity. Regrade barely moved, steadying at premiums of around $1.6 a barrel. Singapore Cash Deals O/AS - One gasoil deal, no jet fuel deal Inventories - Oil product stockpiles held in Asia's key fue
SINGAPORE, Oct 15 (Reuters) — Asia's diesel cash premiums slipped further to nearly four-month lows, though window spot activity picked up and more November refiner sales were underway. More spot offers emerged from northeast Asia, with Taiwan's FPCC offering second-half November shipments for both 10ppm sulphur and 500ppm sulphur gasoil. MDIS/TENDA Meanwhile, the east-west price spread closed the trading session at nearly $180 per ton, though cargo flows on this trade route have yet to surface for end-Oct or November shipments.
However, swing barrels could still head west in the near term, with the arbitrage window widening this week, according to some analysts' expectations. Refining margins fell to $65.74 a barrel, giving back some of the previous session gains. Cash differentials extended losses and closed at $1 a barrel, the lowest level since end-June. Jet fuel spot offers from refiners were slightly more muted in comparison with gasoil, against a backdrop of thin window trading activity.
Regrade barely moved, steadying at premiums of around $1.6 a barrel. Singapore Cash Deals O/AS - One gasoil deal, no jet fuel deal Inventories - Oil product stockpiles held in Asia's key fuel trading hub Singapore jumped to their highest in a month, according to official data on Thursday, as refined fuel stocks continue to accumulate. O/SING1 Refinery News REF/OUT - A big Ukrainian drone attack on Russia's Ryazan region caused a fire to break out at an oil refinery, the regional governor said on Thursday.
News - Russia is ready to restart the export of diesel any time soon, Deputy Prime Minister Alexander Novak said on Thursday, following a supply agreement with the United States and the partial lifting of its restrictions. - Ukraine has resumed its attacks on Russian refineries with a strike at an installation in the Ryazan region, the regional governor said on Thursday, after Ukrainian President Volodymyr Zelenskiy voiced his anger at a "dangerous" withdrawal of US intelligence.
- Oil prices fell by about 2% on Thursday as potential US steps to ease restrictions on Russia's "shadow fleet" tankers soothed price concerns, but attacks on ships in the Middle East and Ukrainian strikes on Russian energy infrastructure limited the decline.
O/R Prices Middle Distillates CASH ($/BBL) ASIA Change Prev RIC CLOSE Close Spot Gas Oil 0.25% 158.56 -5.32 163.88 GO 0.25 Diff -10.50 -0.44 -10.06 Spot Gas Oil 0.05% 163.75 -4.97 168.72 GO 0.05 Diff -5.31 -0.09 -5.22 Spot Gas Oil 0.001% 170.06 -5.32 175.38 GO 0.001 Diff 1.00 -0.44 1.44 Spot Jet/Kero 174.14 -5.54 179.68 Jet/Kero Diff 3.48 -0.60 4.08 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 Trixie Yap; Editing by Tasim Zahid) ((trixie.yap@thomsonreuters.com;)