Asia’s 10-ppm sulphur gasoil markets were discussed in a wide buy-sell gap as traders remained split on the fourth-quarter outlooks, though lower-priced sellers remained scant in the open trading market.

Cash differentials GO10-SIN-DIF for 10 ppm sulphur gasoil rebounded to around $2.65 a barrel, with one oil major from the Middle East seeking early October parcels.

Refining margins GO10SGCKMc1 rebounded by $1 a barrel to slightly above $27 a barrel, likewise the gain in spot premiums.

Jet fuel refining margins JETSGCKMc1 rose at a quicker pace, encouraging sellers back into the market.

More jet fuel cargoes were available from northeast Asian refiners, with SK Energy also selling one end-September lot, as sellers continue to capitalise on the healthier cracks for jet fuel sales and premiums.

Regrade narrowed slightly to below $1 a barrel.

SINGAPORE CASH DEALS

– No deal for gasoil or jet fuel.

NEWS

– Austria’s OMV started up a new biofuels plant at its Schwechat refinery two weeks ago, a company executive said at an energy industry conference in Singapore on Tuesday.

– Oil prices dipped on Tuesday as fresh data added to gloom over the state of China’s post-pandemic recovery, although expectations of an extension in supply cuts by leading OPEC+ members limited losses.
Source: Reuters (Reporting by Trixie Yap; Editing by Shilpi Majumdar)