Asia Distillates-Jet fuel cracks slip on trader concerns over aviation slump

    SINGAPORE, April 13 (Reuters) - Asian refining margins for jet fuel dropped on Tuesday,
partly hurt by firmer feedstock crude prices, while traders were concerned a resurgence in
COVID-19 infections in several countries would continue to hammer aviation demand.
    Refining margins, or cracks, for jet fuel fell 37 cents to $4.38 per barrel
over Dubai crude during Asian trading hours.
    The cracks for the aviation fuel are about 65% lower compared with the levels for this time
of the year in pre-COVID 2019, Refinitiv Eikon data showed.
    Scheduled seat capacity for global airlines this week dropped 1.4% from last week, according
to aviation data firm OAG. 
    The full-month scheduled capacity for April was currently at 271.5 million seats, as of this
week, down from 273.7 million seats planned last week, OAG data showed.
    Global air carriers have removed 13 million seats from their May schedules this week, while
June capacity was also cut by 5.3 million seats, weighed down by fresh virus waves in Europe,
South America and parts of Asia, according to OAG.
    India reported a record daily tally of COVID-19 infections this week amid worries over a
further spike, while Thailand also reported a record daily jump in cases as the country deals
with a third wave of infections and a highly contagious variant.
    Cash discounts for jet fuel JET-SIN-DIF widened by 2 cents to 61 cents a barrel to
Singapore quotes on Tuesday.
    - China's crude oil imports jumped 21% in March from a low base of comparison a year earlier
as refiners ramped up operation amid robust fuel demand post-COVID-19, though purchases slowed
ahead of the maintenance season.
    - China's refined oil product exports for March rose 28.9% from February to 6.83 million
tonnes, but was still down from 7.26 million tonnes a year ago. Fuel exports in the first
quarter reached 17.79 million tonnes, down 1.2% on year.
    - Six gasoil deals, no jet fuel trades
    - Oil prices ticked up on Tuesday after strong Chinese import data but markets broadly
shrugged off Middle East tensions which have so far not disrupted oil supply.
 CASH ($/T)             ASIA CLOSE       Change   % Change   Prev Close  RIC
 Spot Gas Oil 0.5%                65.82     0.17       0.26       65.65  GO-SIN
 GO 0.5 Diff                      -1.63     0.01      -0.61       -1.64  GO-SIN-DIF
 Spot Gas Oil 0.25%               65.99     0.17       0.26       65.82  GO25-SIN
 GO 0.25 Diff                     -1.46     0.01      -0.68       -1.47  GO25-SIN-DIF
 Spot Gas Oil 0.05%               66.24     0.17       0.26       66.07  GO005-SIN
 GO 0.05 Diff                     -1.21     0.01      -0.82       -1.22  GO005-SIN-DIF
 Spot Gas Oil 0.001%              67.33      0.1       0.15       67.23  GO10-SIN
 GO 0.001 Diff                    -0.12    -0.06     100.00       -0.06  GO10-SIN-DIF
 Spot Jet/Kero                    64.57     0.11       0.17       64.46  JET-SIN
 Jet/Kero Diff                    -0.61    -0.02       3.39       -0.59  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 Sherry Jacob-Phillips)