Asia Distillates-Jet fuel cracks slip, cash discounts widen

    SINGAPORE, April 26 (Reuters) - Asia's refining margins for jet fuel dropped on Monday
despite weaker feedstock crude prices as raging COVID-19 infections in several markets continue
to rattle aviation demand in the region.
    Refining margins, or cracks, for jet fuel dropped to $5.62 per barrel over
Dubai crude during Asian trading hours, down from $5.69 per barrel on Friday.
    The soaring virus cases in India would directly impact domestic aviation demand, and with
many countries having already put up restrictions for flights from India, Asian refining margins
will be hurt in the near term, trade sources said.
    Meanwhile, a resurgence of COVID-19 outbreaks across Southeast Asia also dampens hopes for
any short-term recovery in regional jet fuel demand, according to Refinitiv Oil Research
    Cash discounts for jet fuel JET-SIN-DIF were at 7 cents a barrel to Singapore quotes on
Monday, compared with a 6-cent discount at the end of last week.
    - A long-delayed travel bubble between Hong Kong and Singapore will begin on May 26, the two
cities said on Monday, as they moved to re-establish overseas travel links and lift the hurdle
of quarantine for visiting foreigners.
    - The bubble between two of Asia's biggest financial hubs had been slated to begin last
November but was suspended after a spike in coronavirus cases in Hong Kong.
    - The scheme will start with one flight a day into each city, with up to 200 travellers on
each flight, Hong Kong's Commerce Secretary Edward Yau and Singapore's Transport Minister Ong Ye
Ku said at simultaneous press events.
    - One gasoil deal, no jet fuel trades
    - Oil prices fell $1 on Monday on fears that surging COVID-19 cases in India will dent fuel
demand in the world's third-biggest oil importer, while an expected supply increase from OPEC+
also added to pressure.
    - China's southern province of Guangdong convened a meeting of government agencies and
national oil firms to help fight illicit trading and sales of pollutive sub-quality fuel, three
sources with knowledge of the matter told Reuters.
 CASH ($/T)             ASIA CLOSE       Change   % Change   Prev Close  RIC
 Spot Gas Oil 0.5%                67.39    -0.33      -0.49       67.72  GO-SIN
 GO 0.5 Diff                      -1.88    -0.01       0.53       -1.87  GO-SIN-DIF
 Spot Gas Oil 0.25%               67.55    -0.33      -0.49       67.88  GO25-SIN
 GO 0.25 Diff                     -1.72    -0.01       0.58       -1.71  GO25-SIN-DIF
 Spot Gas Oil 0.05%                67.8    -0.33      -0.48       68.13  GO005-SIN
 GO 0.05 Diff                     -1.47    -0.01       0.68       -1.46  GO005-SIN-DIF
 Spot Gas Oil 0.001%              68.93    -0.28      -0.40       69.21  GO10-SIN
 GO 0.001 Diff                    -0.34     0.04     -10.53       -0.38  GO10-SIN-DIF
 Spot Jet/Kero                    67.73    -0.41      -0.60       68.14  JET-SIN
 Jet/Kero Diff                    -0.07    -0.01      16.67       -0.06  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 Ramakrishnan M.)