Gasoil margins, premiums lower

SINGAPORE: Asia’s 10 ppm sulphur gasoil margins and cash premiums closed lower on Wednesday tracking weaker oil futures and continuously thin spot market activity.

Cash differentials for 10 ppm sulphur gasoil reversed gains and fell to $1.71 a barrel. Offers remained readily available for December and early January parcels but there was no buying interest in sight.

Refining margins slipped to $31.19 a barrel, lower by at least $1 a barrel day-on-day.

Jet fuel refining margins closed the session 38 cents lower at $28.30 a barrel. The re-grade was valued narrower day-on-day at minus $2.89 a barrel. South Korea’s SK Energy sold second-half December loading 10ppm sulphur gasoil. Taiwan’s FPCC sold January-loading 10ppm sulphur gasoil.