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Asia Distillates-Gasoil cracks weaken on sluggish demand

    SINGAPORE, May 24 (Reuters) - Asian refining margins for 10 ppm gasoil dropped on Monday,
weighed down by lacklustre regional demand and firmer raw material crude prices.
    Refining margins, also known as cracks, for 10 ppm gasoil fell 30 cents to
$8.52 per barrel over Dubai crude during Asian trading hours, their lowest since last Tuesday.
    Cash premiums for gasoil with 10 ppm sulphur content GO10-SIN-DIF inched higher to 18
cents per barrel to Singapore quotes, compared with a premium of 15 cents per barrel on Friday.
    The June/July time spread for 10 ppm gasoil remained in backwardation to
trade at 12 cents per barrel on Monday.
    
    LIM FAMILY'S ASSETS ON RADAR AFTER SINGAPORE COURT MOVE
    - A Singapore court has approved a freeze on up to $3.5 billion of assets of the family
behind collapsed Hin Leong Trading Pte Ltd, boosting the prospect of debt recovery from the
former oil trading empire that counts some of the world's biggest banks among its creditors.

    - Hin Leong was wound up in March after failing in a year-long effort to restructure more
than $3 billion in debts after the COVID-19-led oil crash laid bare huge losses.
    
    SINGAPORE CASH DEALS
    - One gasoil deal, two jet fuel trades
    
    OTHER NEWS
    - India's crude oil processing fell in April from the previous month with top refiners
reducing crude runs as a fierce second wave of coronavirus infections curbs mobility and demand
for fuel.
    - Oil prices rose on Monday as a potential snag emerged in reviving the 2015 Iran nuclear
deal that could add more oil supply, while Goldman Sachs said the case for higher prices remains
intact even with increased Iran exports.
    
    ASSESSMENTS
 MID-DISTILLATES                                                                        
 CASH ($/T)            ASIA CLOSE       Change   % Change   Prev Close  RIC
 Spot Gas Oil 0.5%               71.78     2.79       4.04       68.99  GO-SIN
 GO 0.5 Diff                     -2.21    -0.01       0.45        -2.2  GO-SIN-DIF
 Spot Gas Oil 0.25%              71.99     2.79       4.03        69.2  GO25-SIN
 GO 0.25 Diff                       -2    -0.01       0.50       -1.99  GO25-SIN-DIF
 Spot Gas Oil 0.05%              72.12     2.79       4.02       69.33  GO005-SIN
 GO 0.05 Diff                    -1.87    -0.01       0.54       -1.86  GO005-SIN-DIF
 Spot Gas Oil 0.001%             74.17     2.83       3.97       71.34  GO10-SIN
 GO 0.001 Diff                    0.18     0.03      20.00        0.15  GO10-SIN-DIF
 Spot Jet/Kero                   71.12     2.56       3.73       68.56  JET-SIN
 Jet/Kero Diff                    -0.3    -0.09      42.86       -0.21  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 Shailesh Kuber)
  
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