SINGAPORE: Asia’s 10 ppm sulphur gasoil margins and premiums rose on Tuesday following a late afternoon surge in oil futures and strong buying interest in the open market.
Cash differentials for 10 ppm sulphur gasoil firmed to $3.66 a barrel on buying interest for December parcels, with only one China major offering a spot lot.
Refining margins for 10 ppm sulphur gasoil firmed by $1.30 a barrel to $40.28 a barrel. Jet fuel refining margins followed the same trend, closing 85 cents a barrel higher at $34.48 a barrel.
Cash premiumsfor jet fuel rose to $2.26 a barrel, reflecting healthy first-half December loading demand.
US crude oil stockpiles fell in the latest week, while fuel stockpiles rose, market sources said citing American Petroleum Institute figures on Tuesday.
Crude stocks fell by about 5.8 million barrels for the week ended Nov. 11, they said. Gasoline inventories rose by about 1.7 million barrels, while distillate stocks rose by about 850,000 barrels, according to the sources, who spoke on condition of anonymity.
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