Asia Distillates-Jet fuel cash differentials climb to 3-week high

    SINGAPORE, Dec 29 (Reuters) - Asia's cash differentials for jet fuel narrowed their
discounts on Tuesday, as the front-month time spread for the aviation fuel slimmed its contango
    Cash discounts for jet fuel JET-SIN-DIF were at 6 cents per barrel to Singapore quotes on
Tuesday, the smallest discounts in three weeks. They were at a discount of 10 cents per barrel
on Monday.
    The January/February time spread for jet fuel in Singapore, which has narrowed
about 27% in the last week, traded at a discount of 19 cents per barrel on Tuesday, Refinitiv
Eikon data showed.
    Air passenger traffic in the region has slightly improved over the past two months,
primarily led by domestic flights in the region, while air freight demand has strengthened in
recent weeks with e-commerce deliveries soaring during the holiday season.
    The rollouts of COVID-19 vaccines are expected to boost more international flights in 2021,
although it would likely take years for the aviation sector to return to pre-pandemic levels,
analysts said.
    Refining margins, or cracks, for jet fuel climbed 19 cents to $4.90 per barrel
over Dubai crude during Asian trading hours, the strongest in more than a week.
    - No gasoil deals, no jet fuel trades
    - China's central economic planner, the National Development and Reform Commission (NDRC),
on Monday called on companies to step up imports of spot liquefied natural gas (LNG) and thermal
coal to ensure energy supplies ahead of an expected cold spell.
    - Oil rose on Tuesday for the third time in four sessions on expectations for rising fuel
demand, as the United States moved towards expanding its pandemic aid payments and with a final
Brexit deal set to stabilize trade between Europe and the UK.
 CASH ($/T)            ASIA CLOSE       Change   % Change   Prev Close  RIC
 Spot Gas Oil 0.5%               55.89      0.1       0.18       55.79  GO-SIN
 GO 0.5 Diff                     -1.44     0.02      -1.37       -1.46  GO-SIN-DIF
 Spot Gas Oil 0.25%              55.99      0.1       0.18       55.89  GO25-SIN
 GO 0.25 Diff                    -1.34     0.02      -1.47       -1.36  GO25-SIN-DIF
 Spot Gas Oil 0.05%              56.09      0.1       0.18       55.99  GO005-SIN
 GO 0.05 Diff                    -1.24     0.02      -1.59       -1.26  GO005-SIN-DIF
 Spot Gas Oil 0.001%             57.26     0.04       0.07       57.22  GO10-SIN
 GO 0.001 Diff                   -0.07    -0.04     133.33       -0.03  GO10-SIN-DIF
 Spot Jet/Kero                   55.66     0.16       0.29        55.5  JET-SIN
 Jet/Kero Diff                   -0.06     0.04     -40.00        -0.1  JET-SIN-DIF
 For a list of derivatives prices, including margins,                                  
 please double click the RICs below.                                    
 Brent M1                                                                              
 Gasoil M1                                                                             
 Gasoil M1/M2                                                                          
 Gasoil M2                                                                             
 Regrade M1                                                                            
 Regrade M2                                                                            
 Jet M1                                                                                
 Jet M1/M2                                                                             
 Jet M2                                                                                
 Gasoil 500ppm-Dubai                                                                   
 Cracks M1                                                              
 Gasoil 500ppm-Dubai                                                                   
 Cracks M2                                                              
 Jet Cracks M1                                                                         
 Jet Cracks M2                                                                         
 East-West M1                                                                          
 East-West M2                                                                          
 LGO M1                                                                                
 LGO M1/M2                                                                             
 LGO M2                                                                                
 Crack LGO-Brent M1                                                                    
 Crack LGO-Brent M2                                                                    
 (Reporting by Koustav Samanta; Editing by Amy Caren Daniel)


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.  Learn more