Asia Distillates: Gasoil cracks, cash premiums down

SINGAPORE: Asian refining margins for 10 ppm gasoil slipped on Monday, despite weaker feedstock crude prices, while cash premiums for the fuel grade dropped on lacklustre buying interests in the physical trade window.

Refining margins, also known as cracks, for 10 ppm gasoil dipped to $20.66 a barrel over Dubai crude during Asian trading hours, compared with $22.16 per barrel on Friday, and drifting further away from an all-time high of $44.04 a barrel hit earlier last week.

Cash premiums for gasoil with 10 ppm sulphur content fell to $4.97 a barrel to Singapore quotes, compared with $6.74 per barrel at the end of last week.