NEW DELHI: Asia’s cash premiums for gasoil eased slightly on Tuesday, still lingering near multi-year highs as road fuel and industrial demand stays high.
Cash premiums for gasoil with 10 ppm sulphur content edged lower to $1.93 a barrel over Singapore quotes, against $2.05 in the previous session.
Meanwhile, gasoil refining margins in India are expected to remain healthy in the near term, with the Indian economy continuing to recover, although spreads may narrow a little as the peak winter heating demand reduces, according to credit rating agency Fitch Ratings.
Cash premiums for jet fell to $1.40 per barrel over Singapore quotes, compared with $1.94 a barrel in the previous session.
One jet fuel trade, two gasoil deals.
Japan’s No. 2 oil refiner, Idemitsu Kosan, has no plan at the moment to give fresh financial aid to Vietnam’s Nghi Son Refinery and Petrochemical (NSRP), which has cut production to 80% of capacity due to a funding problem, an official said.
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