Asia Distillates-Brisk window activity continues; Taiwan's FPCC offers Sept spot

Formosa Petrochemical

05/08/2025 12:06

SINGAPORE, Aug 5 (Reuters) - Asia's middle distillates markets continued upbeat trading activity on window and offscreen, despite prices barely moving, with September sales activity starting to pick up despite mixed forward outlooks.

September sales activity started off from some northeast Asian refiners, in line with earlier expectations, with Taiwan's Formosa Petrochemical Corp offering both 10ppm and 500ppm sulphur gasoil cargoes.

Some traders expect spot supplies to decline slightly in the fourth quarter, given the start of refinery maintenance next month.

The 10ppm sulphur gasoil refining margins GO10SGCKMc1 rebounded for the first time in a week to around $18.4 a barrel.

Deals stayed brisk on the trading window, despite a softer paper structure for a second straight session nearing the middle of the month. At the market's close, cash differentials GO10-SIN-DIF fell to $1.46 a barrel.

The arbitrage window between Asia and the U.S. west coast narrowed slightly, with export sales remaining less profitable for now, some trade sources said.

Regrade held steady at discounts of $1.7 a barrel.

SINGAPORE CASH DEALS O/AS

- One gasoil deal, no jet fuel deal

INVENTORIES

- U.S. crude oil and gasoline stockpiles were expected to have fallen, while distillate inventories likely rose last week, a preliminary Reuters poll showed on Monday. EIA/S

REFINERY NEWS REF/OUT

- Ryazan oil refinery, operated by the Rosneft oil company, has halted around half its refining capacity since August 2 following a Ukrainian drone attack last week, three industry sources said.

NEWS

- U.S. President Donald Trump again threatened on Monday to raise tariffs on goods from India over its Russian oil purchases, while New Delhi called his attack "unjustified" and vowed to protect its economic interests, deepening the trade rift between the two countries.

- Russia-backed Indian refiner Nayara Energy has exported its first gasoline cargo since the privately-owned company was sanctioned by the European Union on July 18, according to four shipping sources and LSEG data.

PRICES

MIDDLE
DISTILLATES
CASH ($/BBL)
ASIA CLOSE
Change
Prev Close
RIC
Spot Gas Oil 0.5%
82.56
0.00
82.56
GO-SIN
GO 0.5 Diff
-5.25
-0.05
-5.20
GO-SIN-DIF
Spot Gas Oil 0.25%
86.85
0.04
86.81
GO25-SIN
GO 0.25 Diff
-0.96
-0.01
-0.95
GO25-SIN-DIF
Spot Gas Oil 0.05%
87.59
0.15
87.44
GO005-SIN
GO 0.05 Diff
-0.22
0.10
-0.32
GO005-SIN-DIF
Spot Gas Oil 0.001%
89.28
-0.05
89.33
GO10-SIN
GO 0.001 Diff
1.46
-0.11
1.57
GO10-SIN-DIF
Spot Jet/Kero
86.75
0.25
86.50
JET-SIN
Jet/Kero Diff
0.80
0.02
0.78
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 Devika Syamnath)

 ((trixie.yap@thomsonreuters.com;))