SINGAPORE: Asia's jet fuel discount to Singapore quotes widened by 3 cents to $0.95 cents a barrel on Monday, the deepest discount in nearly 11 months as high supplies weighed on prices.
The discount for Asia's benchmark 500ppm gasoil, meanwhile, widened by 4 cents to reach a two-session low of 15 cents.
Supplies remained high as China continued to pour out fuel on Asian markets. China exported 1.53 million tonnes of diesel in July, surpassing the previous record monthly volume of 1.48 million tonnes in May.
The July export figure was almost triple the average monthly volume exported last year.
The surge in China's fuel exports has come as the country's state-owned refiners have been left with excess supplies as they have struggled to compete domestically in a price war with private refiners, known as teapots.
Traders, however, have said there is potential for the market to receive support from increased demand over the winter and production cuts caused by refinery maintenance.
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