EVENING LIVE NEWS UPDATE ::
Asia’s cash premiums for 10ppm gasoil slipped on Thursday as the prompt month spread narrowed, while onshore middle distillate stocks in Singapore climbed to their highest in four weeks.
The cracks, or refining margins, for gasoil with 10ppm sulphur content GO10SGCKMc1 were at $16.20 a barrel over Dubai crude during Asian trade, down from $16.90 a barrel on Wednesday.
Cash premiums for 10ppm gasoil GO10-SIN-DIF fell to 54 cents a barrel to Singapore quotes on Thursday, compared with a premium of 68 cents a barrel on Wednesday.
The Oct/Nov time spread narrowed to 90 cents a barrel on Thursday, from $1.32 a day earlier.
Meanwhile, cash discounts for jet fuel narrowed on Thursday, helped by a couple of stronger deals in the physical market, while refining margins for the aviation fuel slipped to their weakest levels so far this week on the back of persistent strength in crude oil prices.