Asia’s 10-ppm sulphur gasoil margin cash premium was little changed on Thursday amid absence of deals at the spot window, market players said.

The front-month crack GO10SGCKMc1 traded steady below $23 a barrel at the Asia close, while cash premium recovered slightly from a six-week low to 89 cents a barrel.

Meanwhile, Singapore’s middle distillates stockpiles slipped week-on-week as net exports of diesel/gasoil rose, official data showed on Thursday.

Net exports of diesel/gasoil rose by 37% from last week, mainly due to an 11% decline in total imports.

On the jet fuel/kerosene front, net exports fell by 130% week-on-week, due to a large increase in imports after previous quieter weeks.

In tenders, India’s MRPL sold 40,000 or 65,000 tons of jet fuel to energy trader BP for loading during March 14-16, market participants said.

Source: Hellenic Shipping News