SINGAPORE: Asian gasoil cash differentials rose on Wednesday, boosted by spot demand from Vietnam, industry sources said.
Vietnam's top fuel importer Petrolimex sought 70,000 tonnes of gasoil for April, helping to keep 500ppm sulphur gasoil cash differentials supported, traders said.
Malaysia's Petronas entered the spot market to buy gasoil meeting domestic specifications, traders said.
The refiner previously exported low sulphur diesel and imported 500ppm sulphur gasoil for its domestic market but its imports had been curbed due to a drop in demand, traders said.
Petronas' latest requirement was due to a spike in domestic demand, an industry source said, adding that its refinery was running normally.
TRADER MOVES: Ricardo Nunes has joined Ampol Singapore as a trading manager, according to his LinkedIn profile. Nunes was previously a middle distillates trader at Petrobras.
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