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Asia Distillates-Jet fuel cash discounts widen amid lacklustre demand

    SINGAPORE, Jan 12 (Reuters) - Asian cash differentials for jet fuel dipped to their lowest
in more than a month on Tuesday, hurt by muted demand for physical cargoes, while renewed travel
restrictions in several countries continue to dampen prospects of a recovery in aviation
passenger demand.
    Cash discounts for jet fuel JET-SIN-DIF were at 28 cents per barrel to Singapore quotes on
Tuesday, the widest since Nov. 26. They were at a discount of 26 cents per barrel a day earlier.
    With a majority of international flights still grounded and countries such as Vietnam
limiting inbound flights ahead of the Lunar New Year holidays, which typically boosts aviation
demand in the region, the jet fuel market is expected to see a slower recovery, market watchers
said.   
    The aviation market in the region, however, is getting some support from improving air cargo
demand, and airlines are also expected to play a vital role in the mass vaccine rollout in
coming days.
    Indian airlines started delivering batches of COVID-19 vaccines across the country on
Tuesday, getting ready for the launch of a campaign to offer shots to 1.3 billion people in what
officials call the world's biggest vaccination drive.
    Refining margins, or  cracks, for jet fuel rose to $4.13 per barrel over Dubai
crude on Tuesday, up from $3.48 a barrel on Monday.
    
    INDONESIA'S AVIATION SAFETY UNDER FRESH SPOTLIGHT
    - Indonesia's poor air safety record is again in the spotlight after a Sriwijaya Air jet
carrying 62 people crashed into the Java Sea minutes after take-off on Saturday, marking the
country's third major airline crash in just over six years.
    - Starting with just one plane in 2003, Indonesia's Sriwijaya Air has become the country's
No.3 airline group, aided by its strategy of acquiring old planes at cheap prices and serving
routes neglected by competitors.
    
    SINGAPORE CASH DEALS
    - One gasoil deal, no jet fuel trades

    OTHER NEWS
    - Oil rose above $56 a barrel on Tuesday and stayed close to an 11-month high, as tighter
supply and expectations of a drop in U.S. inventories offset concerns over climbing coronavirus
cases globally.
    
    ASSESSMENTS
 MID-DISTILLATES                                                                            
 CASH ($/T)              ASIA CLOSE       Change   % Change   Prev Close   RIC
 Spot Gas Oil 0.5%                 59.32     0.95       1.63        58.37  GO-SIN
 GO 0.5 Diff                       -1.52    -0.01       0.66        -1.51  GO-SIN-DIF
 Spot Gas Oil 0.25%                59.42     0.95       1.62        58.47  GO25-SIN
 GO 0.25 Diff                      -1.42    -0.01       0.71        -1.41  GO25-SIN-DIF
 Spot Gas Oil 0.05%                59.52     0.95       1.62        58.57  GO005-SIN
 GO 0.05 Diff                      -1.32    -0.01       0.76        -1.31  GO005-SIN-DIF
 Spot Gas Oil 0.001%               60.63     0.95       1.59        59.68  GO10-SIN
 GO 0.001 Diff                     -0.21    -0.01       5.00         -0.2  GO10-SIN-DIF
 Spot Jet/Kero                     59.01     1.08       1.86        57.93  JET-SIN
 Jet/Kero Diff                     -0.28    -0.02       7.69        -0.26  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 Uttaresh.V)
  
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