Monday, June 5, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use
Oil Market News
  • Home
  • Marketdaily
  • Price
  • crudenow
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEChot
  • brend
  • ships
Oil Market News
Home Gas

Asia Distillates-Gasoil cash differentials rise to highest since March-end

1 year ago
in Gas
Asia Distillates-Gasoil cash differentials rise to highest since March-end
Share on FacebookShare on Twitter


    SINGAPORE, May 21 (Reuters) - Asia's cash discounts for gasoil narrowed for a sixth
consecutive session on Thursday amid firmer buying interests in the physical market,
while Singapore middle distillate stocks hit a two-week low.
    Cash discounts for 10 ppm gasoil GO10-SIN-DIF were at 77 cents per barrel to
Singapore quotes on Thursday, the smallest discounts since end-March. They were at a
discount of 84 cents per barrel on Wednesday.
    Refining margins or cracks for gasoil with 10 ppm sulphur content
rose to $5.58 a barrel over Dubai crude during Asian trading hours, 4 cents higher from
Wednesday.
    Meanwhile, jet fuel cracks in Singapore edged higher to $1.73 a barrel
over Dubai crude on Thursday, up from $1.54 a day earlier.
    European jet profit margins rose to minus 35 cents on Wednesday, the highest in
three weeks, although imports to the region in May touched a one-year peak. A gradual
increase in the number of flights in the region also supported the margins.

    Cash discounts for jet fuel JET-SIN-DIF widened by 6 cents to $2.61 a barrel to
Singapore quotes on Thursday as the front-month spread widened its contango structure.
    
    SINGAPORE INVENTORIES
    - Singapore onshore middle distillate stocks slipped 0.2% to 14.1 million barrels
in the week ended May 20, Enterprise Singapore data showed.
    - Weekly middle distillate inventories have averaged at 12.3 million barrels so far
in 2020, compared with 11.1 million barrels in 2019, Reuters calculations showed.
    - Overall, onshore middle distillate inventories were 19.5% higher year-on-year.
    
    EIA INVENTORIES
    - U.S. crude oil stockpiles fell last week, helping ease concerns about overflowing
oil supply, though gasoline and distillate inventories both rose as refiners increased
processing rates, the Energy Information Administration said on Wednesday.
    - Distillate stockpiles, which include diesel and heating oil, rose by 3.8 million
barrels in the week to 158.8 million barrels, the highest since March 2017, the EIA
data showed.
    
    SINGAPORE CASH DEALS
    - No jet fuel trade, no gasoil deals
    
    OTHER NEWS
    - Vitol returned to Myanmar as a fuel supplier in April for the first time in
months after Hin Leong Trading Pte Ltd left the market, three sources with knowledge of
the matter said.
    - Oil rose on Thursday to its highest since March, supported by lower U.S. crude
inventories, OPEC-led supply cuts and recovering demand as governments ease
restrictions on people's movements imposed due to the coronavirus crisis.
    
    ASSESSMENTS
 MID-DISTILLATES                                                                       
 CASH ($/T)            ASIA CLOSE       Change   % Change   Prev Close  RIC
 Spot Gas Oil 0.5%               37.29     1.29       3.58       36.00  GO-SIN
 GO 0.5 Diff                     -4.11     0.00       0.00       -4.11  GO-SIN-DIF
 Spot Gas Oil 0.25%              38.24     1.47       4.00       36.77  GO25-SIN
 GO 0.25 Diff                    -3.16     0.19      -5.67       -3.35  GO25-SIN-DIF
 Spot Gas Oil 0.05%              38.59     1.61       4.35       36.98  GO005-SIN
 GO 0.05 Diff                    -2.81     0.32     -10.22       -3.13  GO005-SIN-DIF
 Spot Gas Oil 0.001%             40.63     1.36       3.46       39.27  GO10-SIN
 GO 0.001 Diff                   -0.77     0.07      -8.33       -0.84  GO10-SIN-DIF
 Spot Jet/Kero                   34.83     1.37       4.09       33.46  JET-SIN
 Jet/Kero Diff                   -2.61    -0.06       2.35       -2.55  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 Rashmi Aich)
  
Our Standards:The Thomson Reuters Trust Principles.



www.reuters.com

Latest Oil News

Texas Justices Consider Company’s Pause on Oil & Gas Payments

Texas Justices Consider Company’s Pause on Oil & Gas Payments

February 1, 2023
Gasoil margins fall on cautious sentiment amid firm oil

Gasoil margins extend losses on cautious sentiment

January 31, 2023
Monitoring Government: EPA tightens oil & gas emission rules

Monitoring Government: EPA tightens oil & gas emission rules

January 30, 2023
Indonesia faces difficult task to create OPEC-like group for nickel

Oil And Gas In For Turbulent Year As Governments And Industry Butt Heads

January 29, 2023
Tags: ASEAN CountriesAsiaAsia (Energy)Asia / PacificcashChina (PRC)Commodities MarketsCommodity ArbitragedifferentialsDISTILLATES/ASIADistillatesGasoilEmerging Market CountriesEnergy (Legacy)Energy (TRBC)Energy MarketsExclude story from RNPHeating Oil / GasoilhighestJapanJet Fuel / KeroseneMalaysiaMarchendMarketsMiddle DistillatesOil and Gas (TRBC)Oil RefineriesRefined ProductsRiseSingaporeSri Lanka
Previous Post

GAS PRICES SPIKE DUE TO CRUDE OIL PRICE INCREASES

Next Post

AI Still Has Much to Learn About Humans in Natural Gas and Oil Industry

Related Posts

Texas Justices Consider Company’s Pause on Oil & Gas Payments

Texas Justices Consider Company’s Pause on Oil & Gas Payments

by Oil Market News
February 1, 2023
0

Texas justices on Wednesday weighed whether operators of oil and gas leases can withhold payments without interest under the safe...

Gasoil margins fall on cautious sentiment amid firm oil

Gasoil margins extend losses on cautious sentiment

by Oil Market News
January 31, 2023
0

Asia’s 10 ppm sulphur gasoil margins extended losses for a second consecutive session, as cautious trading sentiment continue to weigh...

Monitoring Government: EPA tightens oil & gas emission rules

Monitoring Government: EPA tightens oil & gas emission rules

by Oil Market News
January 30, 2023
0

Photo: Adobe In November, the U.S. Environmental Protection Agency (EPA) rolled out its supplemental proposed methane emissions rule, primarily aimed...

Indonesia faces difficult task to create OPEC-like group for nickel

Oil And Gas In For Turbulent Year As Governments And Industry Butt Heads

by Oil Market News
January 29, 2023
0

Windfall taxes, price caps, and calls for more oil and gas production marked 2022 in oil and gas. It looks...

Beshear, oil and gas leaders pitch using fossil fuels to make hydrogen fuel in

Beshear, oil and gas leaders pitch using fossil fuels to make hydrogen fuel in

by Oil Market News
January 28, 2023
0

This story is by the Kentucky Lantern, which is part of States Newsroom, a network of news bureaus supported by grants...

Focus on Water & Wastewater Treatment, Oil & Gas, Chemicals & Petrochemicals,

Internet of Things-as-a-Service to Enable Improved Opportunities

by Oil Market News
January 27, 2023
0

DUBLIN, Jan. 27, 2023 /PRNewswire/ -- The "Global Process Gas Reciprocating and Centrifugal Compressor Services Market in the Oil and...

Next Post
AI Still Has Much to Learn About Humans in Natural Gas and Oil Industry

AI Still Has Much to Learn About Humans in Natural Gas and Oil Industry

Subscribe
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trend Oil News

Gas Leaking From Assam Oil Well For 4 Days, Centre Sends More Experts

Gas Leaking From Assam Oil Well For 4 Days, Centre Sends More Experts

1 year ago
Schlumberger raises outlook as war in Ukraine pushes oil prices higher

Schlumberger raises outlook as war in Ukraine pushes oil prices higher

11 months ago
Mike Beltran files Constitution Revision Commission repeal in the House – Florida

Mike Beltran files Constitution Revision Commission repeal in the House – Florida

1 year ago
Qatar’s continued focus on key health, education sectors reflected in budget for

Qatar’s continued focus on key health, education sectors reflected in budget for

5 months ago
US set to become world’s largest LNG exporter

US set to become world’s largest LNG exporter

3 months ago
ADVERTISEMENT
Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

June 5, 2023

Opec bans prominent media groups from Vienna meeting

June 4, 2023

Saudi Arabia’s ‘prickly prince’ of oil bristles as crude price slides

June 3, 2023

Nigeria president’s move to end petrol subsidies sparks chaos

June 2, 2023

Exxon and Chevron shareholders cut support for climate resolutions

June 1, 2023

Opinion: Time is up for Big Oil’s business model

May 31, 2023

Crude Oil

4 Days from Deadline, EU Fails To Agree On Russian Oil Products Price Cap

4 Days from Deadline, EU Fails To Agree On Russian Oil Products Price Cap

February 1, 2023
Oil rises after U.S. fuel stocks draw down; economic concerns loom

Oil prices settle steady on higher U.S. demand, weaker dollar

January 31, 2023
S&P 500 Down 1%; Crude Oil Drops Over 2%

S&P 500 Down 1%; Crude Oil Drops Over 2%

January 30, 2023
Russia Can’t Replace the Energy Market Putin Broke

Russia Can’t Replace the Energy Market Putin Broke

January 29, 2023

Investing

Orbital Sidekick Raises $10M Investment to Monitor Oil and Gas Industry from Space 

Orbital Sidekick Raises $10M Investment to Monitor Oil and Gas Industry from Space 

February 1, 2023
Crude Oil Shielded From Bond and Stock Market Rout

Clean-energy investing poised to top money backing oil and gas after hitting a record

January 31, 2023
Crude Oil Shielded From Bond and Stock Market Rout

The Cushing® MLP & Infrastructure Total Return Fund Announces Fund Name Change

January 30, 2023
Boeing’s 747, the original jumbo jet, prepares for final send-off By Reuters

Boeing’s 747, the original jumbo jet, prepares for final send-off By Reuters

January 29, 2023

Market

Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

Saudi Arabia seeks to boost oil price with output cut of 1mn barrels a day

June 5, 2023
Opec bans prominent media groups from Vienna meeting

Opec bans prominent media groups from Vienna meeting

June 4, 2023
Saudi Arabia’s ‘prickly prince’ of oil bristles as crude price slides

Saudi Arabia’s ‘prickly prince’ of oil bristles as crude price slides

June 3, 2023
Nigeria president’s move to end petrol subsidies sparks chaos

Nigeria president’s move to end petrol subsidies sparks chaos

June 2, 2023

OPEC

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP

February 1, 2023
‘OPEC does not control the price’: OPEC President | OPEC News

‘OPEC does not control the price’: OPEC President | OPEC News

January 31, 2023
OPEC+ Closely Watches Chinese Factory Data

OPEC+ Closely Watches Chinese Factory Data

January 30, 2023
Week Ahead: FOMC, BOE, ECB, OPEC, NFP and Big Tech Earnings

Week Ahead: FOMC, BOE, ECB, OPEC, NFP and Big Tech Earnings

January 29, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use

© 2022 OilMarket.News

No Result
View All Result
  • Home
  • Market
  • Price
  • crude
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEC
  • brend
  • ships

© 2022 OilMarket.News

wpDiscuz
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.