Asia Distillates: Gasoil, jet fuel margins little changed amid thin trade

SINGAPORE: Asia’s 10ppm sulphur gasoil and jet fuel margins were little changed on Monday amid thin trade, even as crude prices strengthened. Refining margins for 10ppm sulphur gasoil closed trading at $14.54 a barrel, marginally higher than the previous session’s close of $14.50 a barrel. On the other hand, jet fuel refining margins dipped to $14.18 a barrel, from the previous session’s close of $14.25 a barrel. Cash differentials for 10ppm sulphur gasoil fell to minus 35 cents a barrel, from minus 27 cents a barrel in the previous session.

India’s MRPL offers late-May HSD; Qatar’s Oryx GTL offers early-June GTL diesel.

Oil rose on Monday as US recession fears eased and some traders took the view that crude’s recent price slide, registering three straight weekly declines for the first time since November, was overdone.

Overnight Ukrainian shelling of the Belgorod region on Russia’s border with Ukraine damaged a gas pipeline and power lines as well as a house in Spodaryushino village, the region’s governor said on Sunday.