SINGAPORE, Dec 1 (Reuters) - Asia's diesel spot activity on the trading window stayed upbeat on Monday, with front-month markets mildly supported by unexpected supply troubles in the region.
Some prompt demand from Malaysia emerged following a refinery outage there due to weather related reasons.
Meanwhile, spot discussions for January shipments are expected to emerge in the coming days as a handful of refiners were close to settling their term cargoes.
The front-month east-west price spreads continued narrowing to discounts of around $50 per metric ton.
Refining margins GO10SGCKMc1 eased back to below $22 a barrel, as crude prices gained at a quicker pace in comparison.
Cash differentials GO10-SIN-DIF gained to slightly above $1.3 a barrel, despite lower-priced offers on the trading window, as the front month market backwardation steepened.
Regrade JETREG10SGMc1 narrowed to 30-40 cents per barrel premiums.
SINGAPORE CASH DEALS O/AS
- One gasoil deal, no jet fuel deal
NEWS
- Chevron said loadings of Tengizchevroil crude oil are continuing at the Russian port of Novorossiysk, late on Sunday, following a Ukrainian drone attack that disabled one of the single point moorings (SPMs) at the Caspian Pipeline Consortium's Black Sea terminal.
- Oil prices rose on Monday after OPEC+ members reaffirmed a plan to hold output steady as the Caspian Pipeline Consortium halted exports following a major drone attack and U.S.-Venezuela tensions raised concerns about supply. O/R
- Commodity trader Gunvor has held active talks to invest in U.S. oil- and gas-producing assets, which could smooth over ties with the Trump administration after fallout from Gunvor's bid to buy sanctioned Russian major Lukoil's foreign assets, two sources familiar with the matter said.
- OPEC+ agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings on Sunday as the group slows down its push to regain market share amid fears of a looming supply glut.
PRICES
MIDDLE DISTILLATES | ||||
CASH ($/BBL) | ASIA CLOSE | Change | Prev Close | RIC |
Spot Gas Oil 0.25% | 86.51 | 0.20 | 86.31 | GO25-SIN |
GO 0.25 Diff | -0.08 | 0.13 | -0.21 | GO25-SIN-DIF |
Spot Gas Oil 0.05% | 86.29 | 0.12 | 86.17 | GO005-SIN |
GO 0.05 Diff | -0.30 | 0.05 | -0.35 | GO005-SIN-DIF |
Spot Gas Oil 0.001% | 87.94 | -0.04 | 87.98 | GO10-SIN |
GO 0.001 Diff | 1.34 | -0.11 | 1.45 | GO10-SIN-DIF |
Spot Jet/Kero | 89.68 | 0.37 | 89.31 | JET-SIN |
Jet/Kero Diff | 2.26 | 0.09 | 2.17 | JET-SIN-DIF |
For a list of derivatives prices, including margins, please double click the RICs below. | ||||
Brent M1 | BRENTSGMc1 | |||
Gasoil M1 | GOSGSWMc1 | |||
Gasoil M1/M2 | GOSGSPDMc1 | |||
Gasoil M2 | GOSGSWMc2 | |||
Regrade M1 | JETREGSGMc1 | |||
Regrade M2 | JETREGSGMc2 | |||
Jet M1 | JETSGSWMc1 | |||
Jet M1/M2 | JETSGSPDMc1 | |||
Jet M2 | JETSGSWMc2 | |||
Gasoil 500ppm-Dubai Cracks M1 | GOSGCKMc1 | |||
Gasoil 500ppm-Dubai Cracks M2 | GOSGCKMc2 | |||
Jet Cracks M1 | JETSGCKMc1 | |||
Jet Cracks M2 | JETSGCKMc2 | |||
East-West M1 | LGOAEFSMc1 | |||
East-West M2 | LGOAEFSMc2 | |||
LGO M1 | LGOAMc1 | |||
LGO M1/M2 | LGOASPDMc1 | |||
LGO M2 | LGOAMc2 | |||
Crack LGO-Brent M1 | LGOACKMc1 | |||
Crack LGO-Brent M2 | LGOACKMc2 | |||
(Reporting by Trixie Yap; Editing by Ronojoy Mazumdar)
((trixie.yap@thomsonreuters.com;))