SINGAPORE: The Asian gasoil margin edged higher on Friday, but gains were limited as Thailand offered spot supply in the market, industry sources said.
The December gasoil margin increased by 10 cents to $15.91 a barrel above Dubai crude, Reuters data showed.
Thailand's Bangchak Petroleum offered 12,000 kilolitres for mid-November loading, which added to spot supply where refineries had cut back on run rates, traders said.
Taiwan's Formosa Petrochemical Corp sold its jet fuel cargo to Winson Oil at a premium of 5 cents a barrel to Singapore quotes, traders said.
Jet fuel remained supported by end of year travel demand and heating oil demand in North Asia, traders said.
Worldwide airline share prices rose six percent in October, supported by a continued decline in underlying crude oil prices, the International Air Transport Association said in a report on Friday.
"Initial Q3 financial results show improvements in the US being partially offset by weakness in other regions," the report stated.
"US passenger yields remain up on a year ago, but weakness continues in other regions."
The association added that air freight volumes continue to expand and the trend in air travel growth remains positive, supported by improving economic conditions in the US and Asia.
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