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Asia Distillates-Gasoil cash discount widens, jet discount narrows

    SINGAPORE, April 19 (Reuters) - Asia's cash differentials for 10 ppm gasoil fell for a sixth
straight session on Monday to their biggest discounts in nearly three weeks as elevated exports
from China and the spread of COVID-19 in some Asian markets weighed on the market, trade sources
said.
    But some industry participants expected the market to balance out in the near term as
refinery turnarounds help limit near-term supplies and on expectations of fresh exports to the
West. 
    Cash discounts for gasoil with 10 ppm sulphur content GO10-SIN-DIF widened to 30 cents a
barrel to Singapore quotes, from a discount of 25 cents per barrel on Friday and marking the
lowest since April 1.
    The front-month time spread for the benchmark gasoil grade in Singapore,
which has stayed in a contango structure since early March, slipped to minus 15 cents per barrel
on Monday, Refinitiv Eikon data showed.
    Jet fuel cash differentials, however, jumped to minus 15 cents a barrel on Monday, up from
minus 34 cents at the end of last week on hopes that a travel bubble discussion could help
support the aviation fuel market. 
    Elevated exports of jet fuel from the Singapore storage and trading hub last week also
helped buoy the market.
    
    CHINA GASOIL EXPORTS 
    China's diesel exports in March hovered near a record level, data showed on Sunday, as
companies battled to ease brimming domestic inventories.
    Diesel shipments totalled 2.81 million tonnes last month, versus the previous monthly record
at 2.83 million tonnes in March 2020, data from the General Administration of Chinese Customs
showed. 
    "Diesel supplies way exceeded demand resulting in very high stocks and also the lowest
wholesale prices in several years," Wang Zhao, senior analyst with consultancy Sublime
Information Group, said ahead of the data release.
    
    SINGAPORE CASH DEALS
    - No gasoil or jet fuel deals
    
    ASSESSMENTS
 MID-DISTILLATES                                                             
 CASH ($/T)                     ASIA CLOSE     Change  % Change  Prev Close  RIC
 Spot Gas Oil 0.5%              69.15          -0.28   -0.40     69.43       GO-SIN
 GO 0.5 Diff                    -1.73          -0.03   1.76      -1.70       GO-SIN-DIF
 Spot Gas Oil 0.25%             69.31          -0.29   -0.42     69.60       GO25-SIN
 GO 0.25 Diff                   -1.57          -0.04   2.61      -1.53       GO25-SIN-DIF
 Spot Gas Oil 0.05%             69.46          -0.38   -0.54     69.84       GO005-SIN
 GO 0.05 Diff                   -1.42          -0.13   10.08     -1.29       GO005-SIN-DIF
 Spot Gas Oil 0.001%            70.58          -0.30   -0.42     70.88       GO10-SIN
 GO 0.001 Diff                  -0.30          -0.05   20.00     -0.25       GO10-SIN-DIF
 Spot Jet/Kero                  68.80          0.03    0.04      68.77       JET-SIN
 Jet/Kero Diff                  -0.15          0.21    -58.33    -0.36       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 Roslan Khasawneh;
Editing by Aditya Soni)
  
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