Asia’s 10-ppm sulphur gasoil margins firmed at the start of the week following trading optimism over the reopening of China’s borders, amid a late afternoon uptrend in oil futures.

Refining margins (GO10SGCKMc1) for 10 ppm sulphur gasoil surged by more than $1 a barrel to close the session at $31.53 a barrel.

Cash differentials (GO10-SIN-DIF) for 10 ppm sulphur gasoil went down slightly to $1.67 a barrel amid a buy-sell gap for January-February parcels.

This was amid a narrower prompt-forward month spreads in the paper swaps market.

Similarly, jet fuel refining margins (JETSGCKMc1) went up to $30.70 a barrel.

Regrade (JETREG10SGMc1) was little changed at minus 83 cents a barrel.

SINGAPORE CASH DEALS

– No gasoil or jet fuel deal.

TENDERS

= South Korea’s GS Caltex offers February loading gasoil
Source: Reuters