SINGAPORE, Feb 13 (Reuters) - Spot middle distillate markets were largely steady on Friday, though gasoil margin slipped from the previous session.
Cash differentials for 10ppm sulphur gasoil GO10-SIN-DIF were pegged at steady to slightly higher levels, as some bids firmed for early March loadings.
However, the gasoil margin GO10SGCKMc1 has softened compared to the previous week, closing at about $19.50 per barrel on Friday.
As for jet fuel, timespreads steadied on Friday after some volatile movements during the week.
The regrade spread JETREG10SGMc1 widened to a discount of 74 cents per barrel at the end of the trading week, LSEG data showed.
SINGAPORE CASH DEALS O/AS
- No deal for gasoil, no deal for jet fuel
INVENTORIES
- Gasoil and diesel stocks held independently in the Amsterdam-Rotterdam-Antwerp $(ARA)$ refining and storage hub were broadly stable, up 0.7% at 2.16 million tons as inland demand dwindled, data from Dutch consultancy Insights Global showed.
REFINERY NEWS REF/OUT
- Venezuela's PDVSA is restarting key fluid catalytic cracking units at its Amuay and El Palito refineries, a move to increase fuel output following a power outage that took the 645,000-barrel-per-day Amuay refinery out of service earlier this week, sources said.
NEWS
- Oil prices slipped on Friday and were on track for a second weekly decline on receding concerns of a U.S.-Iran conflict that could affect supply. O/R
- Saudi-backed Midad Energy has signed a term sheet to acquire Russia's sanctioned Lukoil assets in a high-stakes contest against rivals including private equity giant Carlyle Group CG.O, with the deal contingent on U.S. regulatory approval, according to three people familiar with the matter.
- Venezuela's state-run PDVSA is in talks with many of its joint-venture partners, including Chevron, Repsol and Maurel & Prom, to offer them expansions to the oilfields already assigned to their projects, sources with knowledge of the matter said, a move that could contribute to increased crude and gas output.
- The United States has issued a general licence to India's Reliance Industries Ltd that will allow the refiner to buy Venezuelan oil directly without violating sanctions, two sources familiar with the matter said.
PRICES
MIDDLE DISTILLATES | ||||
CASH ($/BBL) | ASIA CLOSE | Change | Prev Close | RIC |
Spot Gas Oil 0.25% | 85.51 | -2.40 | 87.91 | GO25-SIN |
GO 0.25 Diff | -0.61 | -0.12 | -0.49 | GO25-SIN-DIF |
Spot Gas Oil 0.05% | 86.16 | -2.18 | 88.34 | GO005-SIN |
GO 0.05 Diff | 0.05 | 0.11 | -0.06 | GO005-SIN-DIF |
Spot Gas Oil 0.001% | 87.43 | -2.22 | 89.65 | GO10-SIN |
GO 0.001 Diff | 1.31 | 0.06 | 1.25 | GO10-SIN-DIF |
Spot Jet/Kero | 86.38 | -2.23 | 88.61 | JET-SIN |
Jet/Kero Diff | 1.07 | 0.02 | 1.05 | 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 Jeslyn Lerh; Editing by Diti Pujara)
((jeslyn.lerh@thomsonreuters.com))