SINGAPORE, April 8 (Reuters) - The Asian gasoil crack started the week at a four-session low
of $16.83 a barrel as ample supplies weighed on sentiment.
Traders said apart from Vietnam, overall demand appeared lacklustre.
Vietnam's Saigon Petro has bought two 10,000-tonnes of 0.25 percent sulphur gasoil for at
premiums of $1.00-$1.10 a barrel to Singapore quotes on a cost-and-freight (C&F) basis.
The cargoes were initially planned for May 7 to 11 arrival and May 15 to 19 arrival at Ho
Chi Minh City but traders said the delivery dates have been advanced by a week, although it was
unclear why.
Counterpart Petrolimex, Vietnam's top oil products importer, is to award a tender next week
to buy 229,000 tonnes of gasoil for second-quarter delivery.
The state-owned company having resumed issueing the quarterly tender after skipping it for
three straight quarters gave the market a much needed boost last week.
The Asian jet fuel margin was similarly weaker, reaching a five-session low of $16.68 a
barrel, with no support from the cash market.
* SINGAPORE CASH DEALS: Unipec sold 150,000 barrels of 500ppm gasoil for April 23-27 loading
to BP at a parity level, making this the only cash trade for the day.
MID-DISTILLATES
CASH ($/T) ASIA CLOSE Change % Prev RIC
Change Close
Spot Gas Oil 0.5% 120.77 3.36 2.86 117.41 (GO-SIN)
GO 0.5 Diff -2.95 0.00 0.00 -2.95 (GO-SIN-DIF)
Spot Gas Oil 0.25% 117.48 -1.23 -1.04 118.71 (GO25-SIN)
GO 0.25 Diff -1.65 0.00 0.00 -1.65 (GO25-SIN-DI
F)
Spot Gas Oil 0.05% 119.06 -1.24 -1.03 120.30
GO 0.05 Diff -0.07 -0.01 16.67 -0.06 IF>
Spot Gas Oil 0.001% 120.77 -1.23 -1.01 122.00 GO 0.001 Diff 1.64 0.00 0.00 1.64 F>
Spot Jet/Kero 118.44 -1.39 -1.16 119.83 (JET-SIN)
Jet/Kero Diff -0.29 0.00 0.00 -0.29 (JET-SIN-DIF
)
SWAPS ($/T) ASIA CLOSE Change % Prev PM (1130
(0830 GMT) Change Close GMT)
Brent M1 105.01 -1.41 -1.32 106.42
Gasoil M1 119.09 -1.21 -1.01 120.30
Gasoil M1/M2 -0.11 0.04 -26.67 -0.15
Gasoil M2 119.20 -1.25 -1.04 120.45
Regrade M1 -0.54 -0.14 35.00 -0.40 (JETREGSGMc1
)
Regrade M2 -0.15 -0.20 -400.0 0.05 0 >
Jet M1 118.55 -1.35 -1.13 119.90
Jet M1/M2 -0.50 0.10 -16.67 -0.60 (JETSGSPDMc1
)
Jet M2 119.05 -1.45 -1.20 120.50
Gasoil 500ppm-Dubai Cracks M1 16.83 -0.45 -2.60 17.28
Gasoil 500ppm-Dubai Cracks M2 17.39 -0.38 -2.14 17.77
Jet Cracks M1 16.68 -0.65 -3.75 17.33
Jet Cracks M2 17.44 -0.42 -2.35 17.86
East-West M1 3.47 -0.27 -7.22 3.74
East-West M2 0.54 -0.31 -36.47 0.85
LGO M1 883.75 -8.75 -0.98 892.50
LGO M1/M2 -3.75 0.25 -6.25 -4.00
LGO M2 887.50 -9.00 -1.00 896.50
Crack LGO-Brent M1 14.12 0.20 1.44 13.92
Crack LGO-Brent M2 14.46 0.00 0.00 14.46
(Reporting by Seng Li Peng, editing by William Hardy)
