Asia Distillates-Prompt diesel spreads soften again; some Nov refiner sales still underway

S-Oil

02/11/2026 09:17

SINGAPORE, Nov 2 (Reuters) - Asia's front-month diesel markets declined again, with timespreads and cash premiums both easing further, while November refiner spot sales continued to trickle in. 
Refiner sales from China continued, with one oil major still seeking to offload at least two diesel lots for November shipments. 
Some earlier deals in Southeast Asia for 2500ppm sulphur gasoil were done at double-digit premiums, though further details on the seller could not be confirmed. MDIS/TENDA  
Meanwhile, deals for some Northeast Asian barrels done late last week were at discounts of $5 a barrel. 
The front-month east-west price spread continued to hover at discounts of nearly $190 per metric ton. 
Refining margins GO10SGCKMc1 touched nearly $58 a barrel, recovering to a three-session high. 
Cash differentials GO10-SIN-DIF inched back down to slightly below a premium of 40 cents per barrel, tracking the narrower November-December backwardation and a lack of spot window deals. 
Jet fuel markets were soft with cash differentials going back into deeper discounts and November-December timespreads at discounts.
Meanwhile, India's Mangalore Refinery and Petrochemicals offered November spot jet fuel via a tender that closes today. 
December regrade JETREG10SGMc1 was at a premium of slightly more than $1 a barrel. 

SINGAPORE CASH DEALS O/AS
- No deal for diesel or jet fuel 

NEWS
- Since shipping through the Strait of Hormuz was disrupted by the US-Israeli war on Iran, nearly 1 billion oil barrels have been drained from global inventories, the CEO of Abu Dhabi's state-owned oil company, ADNOC, said on Monday.
- South Korea's S-Oil, a unit of Saudi Aramco 2223.SE , said on Monday it expected Asian refining margins in the fourth quarter to be strong due to low global stocks of key products and heating demand.
- OPEC+ oil-producing countries kept December production targets steady on Sunday, confirming expectations that more policy adjustments will not occur until next year, as the group continues to struggle with export disruptions from the Iran war.

PRICES
MIDDLE DISTILLATES




CASH ($/BBL)
ASIA CLOSE
Change
Prev Close
RIC
Spot Gas Oil 0.25% 
159.43
-1.14
160.58
GO25-SIN
GO 0.25 Diff
-6.95
1.73
-8.69
GO25-SIN-DIF
Spot Gas Oil 0.05%
162.06
-2.95
165.01
GO005-SIN
GO 0.05 Diff
-4.33
-0.08
-4.25
GO005-SIN-DIF
Spot Gas Oil 0.001%
166.78
-2.95
169.73
GO10-SIN
GO 0.001 Diff
0.39
-0.08
0.47
GO10-SIN-DIF
Spot Jet/Kero
166.00
-2.83
168.83
JET-SIN
Jet/Kero Diff
-0.65
-0.14
-0.51
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 Jochelle Mendonca)
 ((trixie.yap@thomsonreuters.com;))