Gasoil premiums, margins erase gains since Sep

Asia's 10 ppm sulphur gasoil margins and premiums fell for a fourth consecutive day amid continued thin spot activity.

Cash differentials (GO10-SIN-DIF) fell to $1.31 a barrel, a new low since mid-September.

Refining margins (GO10SGCKMc1) for 10 ppm sulphur gasoil slipped by more than $1 a barrel to $29.56 a barrel, erasing all gains since second-half September.

Jet fuel refining margins (JETSGCKMc1) closed the session at $25.86 a barrel, lower by more than $2 a barrel day on day.

Regrade (JETREG10SGMc1) widened at minus $3.70 a barrel.

SINGAPORE CASH DEALS

- No gasoil or jet fuel deal.

INVENTORIES

- U.S. crude stocks fell while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Distillate stockpiles (USOILD=ECI), which include diesel and heating oil, rose by 6.2 million barrels in the week to 118.8 million barrels, versus expectations for a 2.2 million-barrel rise, the EIA data showed.

- Middle distillates onshore inventory volumes in Singapore held by up to 14 major oil and oil storage companies fell to 3-week low of 7.066 million barrels, data from Enterprise Singapore showed on Thursday.

NEWS

- Oil prices rebounded on Thursday amid optimism over China's easing of anti-COVID measures, recouping losses after slumping to the lowest levels so far this year in the previous session.

- The Abu Dhabi National Oil Company (ADNOC) said on Thursday it had set the January official selling price (OSP) of its benchmark Murban crude at $90.90 a barrel. The December OSP was $93.53 a barrel.

PRICES