Asia Distillates: Jet fuel cash premiums decline

NEW DELHI: Asia’s cash differentials for jet fuel dropped on Thursday, after a rise in Singapore inventories stoked demand worries. Cash premiums for jet declined to 78 cents per barrel to Singapore quotes, compared with 95 cents a barrel in the last session.

Singapore inventories of middle distillates climbed 1.355 million barrels to a two-month high of 8.525 in the week to Jan. 19, data from Enterprise Singapore showed. The stockpiles had plunged 12% to an eight-year low of 7.170 million barrels last week.

Cash premiums for 10 ppm gasoil edged higher to $1.10 a Barrel to Singapore quotes, compared with $1.08 on Wednesday.