NEW DELHI: Asia’s refining margins for 10 ppm grade gasoil declined on Friday after European inventories rose by 12%, denting demand sentiment.
Refining margins for 10 ppm gasoil slipped to $54.21 a barrel over Dubai crude in Asian trading hours, compared with $57.19 on Thursday.
Meanwhile, cash differentials for 10 ppm gasoil stood at a premium of $1.82 a barrel to Singapore quotes, up from $1.83 in the previous session.
“Asia-Pacific diesel demand will reach its trough this month and is expected to strengthen from here until the end of the year,” consultancy energy aspects said in a note.
Gasoil stocks held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage area jumped by 12% to 1.696 million tonnes as barges could only transport 300-400 tonnes in the week to Thursday, Insights Global data showed.
Jet Fuel stocks declined to 802,000 tonnes from 847,000 tonnes in the week, data showed.
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