SINGAPORE: Asian refining margins for 10 ppm gasoil slipped on Wednesday, while cash differentials for the industrial fuel grade strengthened to their smallest discounts in more than a month.

Refining margins, also known as cracks, for 10 ppm gasoil dipped 12 cents to $6.56 per barrel over Dubai crude during Asian trading hours, but stayed within close sight of a near four-week high touched in the previous session.

Cracks for the benchmark gasoil grade in Singapore, which have gained 38% so far this month, were still more than 40% lower than their five-year seasonal average for this time of the year, Refinitiv Eikon data showed.