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Asia Distillates-Gasoil cracks slip amid expectations for ample supplies

    SINGAPORE, March 29 (Reuters) - Asian refining margins for 10 ppm gasoil inched lower on
Monday, despite weaker feedstock crude prices, while traders were concerned increased export
volumes from China would weigh on the regional market in the near term.
    Refining margins, also known as cracks, for 10 ppm gasoil dipped 4 cents to
$4.93 per barrel over Dubai crude during Asian trading hours.
    The gasoil cracks, which have shed 33% so far this month, currently linger at their weakest
seasonal levels on record, Refinitiv Eikon data showed.
    China's diesel exports in March are expected to be around 1.6 million-1.7 million tonnes,
likely exceeding the export volumes from last month, while India's March-loading diesel exports
were seen at around 1.8 million-1.9 million tonnes, Refinitiv Oil Research assessments showed.
    Cash differentials for 10 ppm gasoil GO10-SIN-DIF were at a discount of 27 cents per
barrel to Singapore quotes, compared with a 28-cent discount on Friday.
    
    PERTAMINA AIMS TO RESTART OIL REFINERY IN DAYS AFTER BLAZE
    - Indonesian state oil company Pertamina said on Monday it hoped to restore operations at
its Balongan oil refinery in West Java in four or five days, as firefighters worked to
extinguish a massive blaze that broke out overnight, injuring five people.
    - Pertamina            shut the plant and evacuated about 950 nearby residents, with videos
shared on social media showing huge flames engulfing the 125,000 barrels per day facility, while
a large explosion could be heard.
    - Pertamina chief executive Nicke Widyawati told reporters the fire was concentrated in the
refinery's storage tanks and there had been no impact on the processing plant.
    
    SINGAPORE CASH DEALS
    - No gasoil deals, no jet fuel trades
    
    OTHER NEWS
    - A massive container ship blocking Egypt's Suez Canal for nearly a week has been partially
refloated, the Suez Canal Authority (SCA) said on Monday, raising hopes the busy waterway will
soon be reopened for a huge backlog of ships.
    
    ASSESSMENTS
 MID-DISTILLATES                                                                       
 CASH ($/T)            ASIA CLOSE       Change   % Change   Prev Close  RIC
 Spot Gas Oil 0.5%               65.92     0.88       1.35       65.04  GO-SIN
 GO 0.5 Diff                     -1.62     0.02      -1.22       -1.64  GO-SIN-DIF
 Spot Gas Oil 0.25%              66.09     0.88       1.35       65.21  GO25-SIN
 GO 0.25 Diff                    -1.45     0.02      -1.36       -1.47  GO25-SIN-DIF
 Spot Gas Oil 0.05%              66.42     0.88       1.34       65.54  GO005-SIN
 GO 0.05 Diff                    -1.12     0.02      -1.75       -1.14  GO005-SIN-DIF
 Spot Gas Oil 0.001%             67.27     0.87       1.31        66.4  GO10-SIN
 GO 0.001 Diff                   -0.27     0.01      -3.57       -0.28  GO10-SIN-DIF
 Spot Jet/Kero                   64.74     1.04       1.63        63.7  JET-SIN
 Jet/Kero Diff                   -0.54     0.01      -1.82       -0.55  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.)
  
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