Asia Distillates-Diesel cash diffs at 2-week high while jet fuel slips; Taiwan's FPCC offers July spot

Formosa Petrochemical

04/06/2025 10:52

SINGAPORE, June 4 (Reuters) - Asia's middle distillates' spot activity rose at a quicker pace on Wednesday, with more window deals emerging and diesel spot premiums gaining to two-week highs while refiners offered spot July cargoes.

Taiwan's Formosa Petrochemical Corp started its July spot sale for both 10ppm and 500ppm sulphur gasoil via a spot tender that closes a day later. MDIS/TENDA

Traders were eyeing whether discussion levels were at similar levels from a month earlier to gauge supply-demand expectations.

Meanwhile, stocks at Fujairah Oil Industry Zone were at multi-year lows, industry data showed.

Window trades were brimming, with spot discussion at a slightly more upbeat pace than the previous trading session. Cash differentials for 10ppm sulphur gasoil GO10-SIN-DIF hit a two-week high premium of 46 cents per barrel.

Jet fuel differentials, however, skidded back into almost negative territory as front-month paper prices came under pressure amid lower prompt physical offers on window.

Separately, 10ppm sulphur gasoil refining margins GO10SGCKMc1 rebounded to slightly above $16.1 a barrel, reversing most of the earlier sessions' losses.

Regrade JETREG10SGMc1 for July widened slightly to discounts of over $1.1 a barrel.

SINGAPORE CASH DEALS O/AS

- Two gasoil deals, no jet fuel deals

INVENTORIES

- Middle distillates stocks held at Fujairah Oil Industry Zone declined to under 1 million barrels for the week ended June 2, according to industry information service S&P Global Commodity Insights. FUJAIRAH/

NEWS

- Airlines need to reach long-term agreements to buy bigger quantities of sustainable aviation fuel if they want to boost global volumes of the lower-emission fuel required for industry climate targets, a Bayer executive said on Tuesday.

- Oil prices held steady on Wednesday as concerns around the OPEC+ group's next output increase were offset by Canadian supply pressures due to wildfires there, while global trade tensions continue to linger. O/R

- Venezuela's oil exports remained almost unchanged last month as increased shipments to customers in China offset a decline in U.S.-authorized sales, according to vessel-tracking data and internal documents from state company PDVSA.

PRICES

MIDDLE DISTILLATES
CASH ($/BBL)
ASIA CLOSE
Change
Prev Close
RIC
Spot Gas Oil 0.5%
75.46
1.04
74.42
GO-SIN
GO 0.5 Diff
-5.35
0.02
-5.37
GO-SIN-DIF
Spot Gas Oil 0.25%
79.34
1.12
78.21
GO25-SIN
GO 0.25 Diff
-1.47
0.11
-1.58
GO25-SIN-DIF
Spot Gas Oil 0.05%
80.61
1.04
79.57
GO005-SIN
GO 0.05 Diff
-0.20
0.02
-0.22
GO005-SIN-DIF
Spot Gas Oil 0.001%
81.27
1.07
80.20
GO10-SIN
GO 0.001 Diff
0.46
0.06
0.40
GO10-SIN-DIF
Spot Jet/Kero
79.34
0.83
78.51
JET-SIN
Jet/Kero Diff
0.00
-0.10
0.10
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 Sonia Cheema)

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