Gains in Asia’s 10 ppm sulphur gasoil margins were shortlived on Tuesday, with the market weakening slightly on mixed oil futures and cautious trading sentiment ahead of the Lunar New Year holiday.

Refining margins for 10 ppm sulphur gasoil fell slightly to $35.23 a barrel,

Cash differentials for 10 ppm sulphur gasoil held steady on the lack of firm discussions and a continuous buy-sell gap for February parcels.

Jet fuel refining margins, however, recovered slightly after some traders bought into the market given the widening trend since a week earlier.

Regrade narrowed to a discount of $1.60 a barrel as a result.

SINGAPORE CASH DEALS

– No gasoil or jet fuel deal.

TENDERS

– India’s Nayara Energy offers second-half February diesel, jet fuel

– South Korea’s SK Energy sells Feb jet fuel at premium
Source: Reuters