NEW DELHI: Asia’s cash premiums for 10 ppm gasoil declined for a sixth consecutive session on Tuesday amid muted trading and overall weakness in demand in product markets.
Cash differentials for gasoil with 10 ppm sulphur content were at a premium of $1.78 a barrel to Singapore quotes, down from $1.93 per barrel in the last session.
On the supply side, Indian diesel exports declined to 2.45 million tonnes in June from 3.06 million tonnes in May, government data showed.
Total oil product imports rose 13.1% to 3.37 million tonnes from a year earlier, while exports edged down about 0.2% to 5.5 million tonnes, data from the Petroleum Planning and Analysis Cell showed.
Refining margins for 10 ppm gasoil jumped to $37.29 a barrel over Dubai crude in Asian trading hours, compared with $35.11 on Monday.