Asia Distillates-Gasoil cash premiums dip, cracks hit 2-month high
Asia's cash premiums for 10 ppm gasoil dipped on Monday, hurt by a weaker deal in the physical market, but traders expect the market to remain tight in the near term.
Cash premiums for gasoil with 10 ppm sulphur content dipped to 73 cents per bbl to Singapore quotes, compared with 86 cents per bbl on Friday.
Refining margins, also known as cracks, for 10 ppm gasoil rose to a two-month high of $14.48 a bbl over Dubai crude during Asian trading hours, up from $14.08 per bbl on Friday.
Meanwhile, jet fuel cracks climbed to $12.63 per bbl over Dubai crude on Monday, against $11.78 a bbl at the end of last week.
Cash differentials for jet fuel flipped to a premium of 9 cents per bbl to Singapore quotes on Monday, compared with a discount of 2 cents per bbl on Friday.
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