Asia’s spot premium for gasoil dropped on Thursday, while a December cargo traded at a slight discount.
Cash premiums for 10ppm sulphur gasoil GO10-SIN-DIF fell below 50 cents a barrel as lower-priced offers continued to emerge for December-loading shipments.
Taiwan’s CPC Corp sold gasoil for December loading at a slight discount, based on market sources.
However, refining margins GO10SGCKMc1 rebounded slightly from the previous session, closing at around $16.90 a barrel at 0830 GMT, based on LSEG data.
As for jet fuel, spot differentials were pegged in thin premiums on Thursday, while regrade JETREG10SGMc1 was stable at a premium of 69 cents a barrel.
SINGAPORE CASH DEALS O/AS
– No gasoil deal, no jet fuel deal.
INVENTORIES
– Singapore’s middle distillates inventories rose for a fourth straight week to 10.27 million barrels, hitting a seven-week high, official data showed.
REFINERY NEWS REF/OUT
– Japan’s Cosmo Oil, a unit of Cosmo Energy Holdings 5021.T, restarted the 86,000-barrels-per-day (bpd) crude distillation unit at the Yokkaichi refinery in central Japan on Nov. 9 after planned maintenance, a company spokeswoman said.
NEWS
– Sinochem Group may keep three bankrupt oil refineries located in eastern China after auctions to sell them drew little interest from other companies, sources familiar with the matter said.
– Koch Industries is cutting or facing departures of employees across its trading division, several sources familiar with the matter said.
– Major oil and gas companies have ramped up investments in the biofuels sector, betting on sustainable aviation fuel, with 43 projects expected to be up and running by 2030, consultancy Rystad said in a report.
Source: Reuters (Reporting by Jeslyn Lerh; Editing by Savio D’Souza)