Asia’s ultra low-sulphur gasoil refining margins collapsed to the lowest in nearly three years, pricing data from LSEG showed on Tuesday, as excess supply and persistently soft derivative markets depressed prices.

The margin for 10-ppm gasoil, a fuel used in transportation and industries, slipped to slightly below $11 a barrel, down from $11.50 a day earlier, the data showed.
This is the lowest since Dec. 1, 2021, according to LSEG data.
Source: Reuters (Reporting by Trixie Yap; Editing by Andrew Heavens)