Asia Distillates-Gasoil Refining Margins Gain as Crude Prices Dip

Asian refining margins for 10 ppm gasoil climbed on Monday, partly helped by weaker raw material crude prices, while cash premiums for the industrial fuel rose.

Refining margins, also known as cracks, for gasoil with 10 parts per million (ppm) sulphur content rose to $15.01 per barrel over Dubai crude during Asian trading hours, up from $14.23 per barrel on Friday.

Cash premiums for the benchmark 10 ppm gasoil grade GO10-SIN-DIF rose to 60 cents per barrel over Singapore quotes on Monday, compared with 55 cents per barrel in the previous session on Friday.

The front-month time spread for 10ppm gasoil widened its backwardated structure by…

View entirety: Reuters