SINGAPORE: Asia’s refining margins for 10 ppm gasoil and jet fuel hit four-week highs on Tuesday as oil prices continue to fall following weak economic data from top buyer China.
Refining margins for 10 ppm gasoil rose to $43.50 a barrel over Dubai crude in Asian trading hours, compared with $40.64 on Monday. It hit its highest since mid-July, extending gains to a fifth consecutive session.
Cash differentials for gasoil with 10 ppm sulphur content stood at a premium of $0.89 a barrel to Singapore quotes, up from $0.82 in the previous session.
Refining margins for jet fuel rose to $38.05 a barrel over Dubai crude during Asian trading hours, compared with $34.89 on Monday. They hit their highest since mid-July, extending gains to a fifth consecutive session.
No gasoil trades, no jet fuel deals. India’s MRPL offers early-September HSD and jet fuel, Sri Lanka’s Ceypetco seeks 10 ppm and 500 ppm gasoil, Pakistan’s PSO seeks gasoil and jet fuel.