AIRLINK 171.47 Decreased By ▼ -4.26 (-2.42%)
BOP 13.20 Increased By ▲ 0.08 (0.61%)
CNERGY 7.41 Decreased By ▼ -0.13 (-1.72%)
FCCL 43.27 Decreased By ▼ -0.64 (-1.46%)
FFL 14.90 Decreased By ▼ -0.11 (-0.73%)
FLYNG 26.46 Decreased By ▼ -0.44 (-1.64%)
HUBC 129.98 Decreased By ▼ -0.25 (-0.19%)
HUMNL 13.22 Decreased By ▼ -0.12 (-0.9%)
KEL 4.44 Decreased By ▼ -0.06 (-1.33%)
KOSM 6.04 Decreased By ▼ -0.02 (-0.33%)
MLCF 54.93 Decreased By ▼ -1.10 (-1.96%)
OGDC 211.03 Decreased By ▼ -3.74 (-1.74%)
PACE 5.95 Decreased By ▼ -0.03 (-0.5%)
PAEL 41.00 Increased By ▲ 0.10 (0.24%)
PIAHCLA 16.21 Decreased By ▼ -0.11 (-0.67%)
PIBTL 9.57 Decreased By ▼ -0.18 (-1.85%)
POWER 11.58 Decreased By ▼ -0.18 (-1.53%)
PPL 177.51 Decreased By ▼ -3.97 (-2.19%)
PRL 33.17 Decreased By ▼ -1.05 (-3.07%)
PTC 22.75 Decreased By ▼ -0.31 (-1.34%)
SEARL 93.70 Decreased By ▼ -2.02 (-2.11%)
SILK 1.18 Increased By ▲ 0.04 (3.51%)
SSGC 34.67 Decreased By ▼ -0.78 (-2.2%)
SYM 15.66 Decreased By ▼ -0.09 (-0.57%)
TELE 7.79 Decreased By ▼ -0.08 (-1.02%)
TPLP 10.90 Decreased By ▼ -0.08 (-0.73%)
TRG 60.60 Increased By ▲ 0.10 (0.17%)
WAVESAPP 10.70 Decreased By ▼ -0.11 (-1.02%)
WTL 1.33 Decreased By ▼ -0.02 (-1.48%)
YOUW 3.78 Increased By ▲ 0.01 (0.27%)
BR100 12,042 Decreased By -11.4 (-0.09%)
BR30 36,310 Decreased By -157.1 (-0.43%)
KSE100 113,651 Decreased By -705.8 (-0.62%)
KSE30 35,020 Decreased By -326.9 (-0.92%)

SINGAPORE: Asia’s 10 ppm sulphur gasoil margins reversed the one-day uptrend and weakened to $25.42 per barrel amid firmer oil futures, but firm buying interest cushioned overall market weakness.

Sufficient supply for March is still expected, with China majors likely to keep exports elevated amid increased crude runs.

A handful of northeast Asian refiners were also concluding their March deals via open tenders.

Cash differentials went up to $1.33 per barrel because of strong buying interest from Vitol, despite readily available offers from end-February to March from other traders.

Jet fuel refining margins surged at a quicker pace, narrowing the regrade to a discount of 20 cents, as strong demand expectation continued to buoy market sentiment.

Several analysts estimate jet fuel demand growth to be the quickest among all oil products following the lifting of COVID restrictions in China.

South Korea’s SK Energy reissues March loading gasoil tender

Taiwan refiners sell March gasoil at small discounts

US crude oil stocks rose last week to their highest level since June 2021, helped by higher production, the Energy Information Administration said on Wednesday. Distillate stockpiles, which include diesel and heating oil, rose by 2.9 million barrels in the week to 120.5 million barrels, its highest in a year, EIA data showed. Analysts had expected a 0.1 million-barrel rise.

Singapore light distillate stocks held by up to 14 major oil and oil storage companies drop to 16.766 million barrels, a two-week low, as of Feb.8, according to data released on Thursday by Enterprise Singapore.

South Korea’s anti-trust regulator said on Thursday it would impose a combined fine of 42.3 billion won ($33.48 million) on three German automakers for colluding to rig emissions of its diesel cars using software.

Oil prices were broadly steady on Thursday as the prospect of higher fuel demand in China as it reopens post-COVID curbs was offset by fears that US crude stocks hitting their highest for months may signal weakening demand in the world’s no. 1 economy.

Comments

Comments are closed.