Asia’s diesel markets barely moved with both timespreads and cash differentials holding steady, amid thin window activity on Monday, though margins fell further to two-month lows.

January spot cargoes were still under discussion from a handful of regional refiners, though further details could not be confirmed.

Refining margins (GO10SGCKMc1) slipped to two-month lows of $20 a barrel, against a backdrop of softening paper markets and thinner liquidity at the year-end.

Trading activity for physical spot cargoes was limited on the window and cash differentials (GO10-SIN-DIF) were little changed at 50 cents per barrel – a four-month low level.

On the jet fuel front, some buying activity from Southeast Asia stayed firm – with expectations of kerosene heating demand during winter proving supportive to the market.

Regrade (JETREG10SGMc1) widened further to premiums of 40-50 cents per barrel, reflecting the firmer jet fuel paper markets.

SINGAPORE CASH DEALS

– No deals for gasoil or jet fuel

REFINERY NEWS

– Ukraine’s military said on Friday it attacked a major Russian oil refinery in Yaroslavl, north-east of Moscow, and industry sources said the facility had suspended output.

NEWS

– Oil prices climbed on Monday as supply disruptions linked to escalating U.S.-Venezuela tensions outweighed oversupply worries and the impact of a potential Russia-Ukraine peace deal.
– China’s crude oil throughput rose 3.9% in November, Statistics Bureau data showed on Monday, as a new batch of crude oil import quotas for independent refiners offset maintenance at some state-owned refineries.
– Thailand’s military said on Monday that it has stopped fuel shipments passing through a border checkpoint with Laos because of fears they were being diverted to Cambodia, with which it is fighting a fierce border conflict.
– The delivery of two new mooring points to the Caspian Pipeline Consortium’s Black Sea terminal has been brought forward to January from April, Kazakhstan’s Energy Minister Yerlan Akkenzhenov said on Monday.
Source: Reuters