Asia Distillates-Jet fuel cash differentials flip into premiums - Reuters

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    SINGAPORE, Dec 7 (Reuters) - Asia's cash differential for jet fuel flipped to a narrow
premium on Monday for the first time in more than nine months, while prompt-month spread for the
aviation fuel remained in a contango structure.
    Cash differentials for jet fuel JET-SIN-DIF were at a premium of 3 cents a barrel to
Singapore quotes on Monday, a level not seen since late February. They were at a discount of 15
cents per barrel on Friday.
    The jet fuel market is getting support from a gradual recovery in aviation demand, while
spot availability of the fuel is limited to an extent, a trader said. Also, the market contango
has "narrowed a lot," he added.
    The December/January time spread for jet fuel in Singapore traded at a
discount of 28 cents per barrel on Monday, Refinitiv Eikon data showed. The prompt-month spread
narrowed about 53% over the last two months.
    The overall market for the aviation fuel, however, is expected to remain under pressure at
least until the second quarter of next year as international travel restrictions persist amid
renewed surge of COVID-19 cases in several markets, market watchers said.
    Refining margins, also known as cracks, for jet fuel dropped to $4.37 per
barrel over Dubai crude during Asian trading hours, down from $4.63 per barrel on Friday.
    
    CHINA'S CRUDE IMPORTS RISE IN NOVEMBER
    - China's November crude oil imports rose from a month earlier as customs continued to clear
the backlog, although independent refiners slowed purchases as they reached their import quota
limits.
    - China brought in 45.36 million tonnes of crude oil last month, equivalent to 11.04 million
barrels per day (bpd), data from the General Administration of Customs showed on Monday. That
compares with 42.56 million tonnes in October and was 0.8% less than the level in November 2019.
    
    SINGAPORE CASH DEALS
    - No gasoil deals, no jet fuel trades
    
    OTHER NEWS
    - Oil prices slipped on Monday as positive impact from COVID-19 vaccines and an OPEC+ deal
on oil production cuts was undermined by surging coronavirus cases and heightened tensions
between the United States and China.

    ASSESSMENTS
 MID-DISTILLATES                                                                       
 CASH ($/T)            ASIA CLOSE       Change   % Change   Prev Close  RIC
 Spot Gas Oil 0.5%               51.92    -1.36      -2.55       53.28  GO-SIN
 GO 0.5 Diff                     -1.44    -0.19      15.20       -1.25  GO-SIN-DIF
 Spot Gas Oil 0.25%              52.22    -1.36      -2.54       53.58  GO25-SIN
 GO 0.25 Diff                    -1.14    -0.19      20.00       -0.95  GO25-SIN-DIF
 Spot Gas Oil 0.05%              52.37    -1.36      -2.53       53.73  GO005-SIN
 GO 0.05 Diff                    -0.99    -0.19      23.75       -0.80  GO005-SIN-DIF
 Spot Gas Oil 0.001%             53.14    -1.24      -2.28       54.38  GO10-SIN
 GO 0.001 Diff                   -0.22    -0.07      46.67       -0.15  GO10-SIN-DIF
 Spot Jet/Kero                   52.08    -0.88      -1.66       52.96  JET-SIN
 Jet/Kero Diff                    0.03     0.18    -120.00       -0.15  JET-SIN-DIF
                                                                                       
 For a list of derivatives prices, including margins, please double                    
 click the RICs below.                                                  
 Brent M1                                                                              
 Gasoil M1                                                                             
 Gasoil M1/M2                                                                          
 Gasoil M2                                                                             
 Regrade M1                                                                            
 Regrade M2                                                                            
 Jet M1                                                                                
 Jet M1/M2                                                                             
 Jet M2                                                                                
 Gasoil 500ppm-Dubai                                                                   
 Cracks M1                                                              
 Gasoil 500ppm-Dubai                                                                   
 Cracks M2                                                              
 Jet Cracks M1                                                                         
 Jet Cracks M2                                                                         
 East-West M1                                                                          
 East-West M2                                                                          
 LGO M1                                                                                
 LGO M1/M2                                                                             
 LGO M2                                                                                
 Crack LGO-Brent M1                                                                    
 Crack LGO-Brent M2                                                                    
 
 (Reporting by Koustav Samanta; Editing by Krishna Chandra Eluri)
  

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Asia Distillates-Jet fuel cash differentials flip into premiums - Reuters
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