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Asia Distillates-Gasoil cracks, spot premiums linger near multi-month highs

    SINGAPORE, Sept 6 (Reuters) - Asian refining margins for 10 ppm gasoil held near their
strongest level in more than 17 months, supported by weaker raw material crude prices and steady
arbitrage flows to the West.
    Refining margins, also known as cracks, for 10 ppm gasoil were at $9.80 per
barrel over Dubai crude during Asian trading hours, compared with Friday's $9.81 per barrel, the
highest since late-March last year.
    Cracks for the benchmark gasoil grade in Singapore have climbed 18.8% in the last two weeks,
Refinitiv Eikon data showed.
    Despite sluggish regional demand, lower stock levels and demand for heating oil ahead of
winter months in Europe is supporting the Asian gasoil market, while traders expect a stronger
pull from Europe in the next few weeks as U.S. supplies are limited after Hurricane Ida.

    "We expect U.S. (supplies) to be back within a month. So, the pull can cool down after
October," a Singapore-based middle distillates trader said.
    Cash premiums for gasoil with 10 ppm sulphur content GO10-SIN-DIF dipped to 25 cents per
barrel to Singapore quotes on Monday, but still within close sight of a multi-month high of 31
cents per barrel touched on Friday.
    
    PHILIPPINES
    - Philippine President Rodrigo Duterte is lifting a coronavirus ban on travelers from 10
countries including India, the United Arab Emirates and Indonesia, the presidential spokesperson
said on Saturday.
    - Philippine Airlines will return 22 aircraft, mostly Airbus and Boeing
jets, to lessors as it pursues a financial restructuring programme to survive after the pandemic
has decimated global travel, executives said on Monday.
    
    TENDERS
    - Sri Lanka's Ceylon Petroleum Corp (Ceypetco) is seeking 280,000 barrels of jet fuel for
Oct. 28-29 delivery into Colombo. The tender closes on Sept. 14 and will remain valid for three
days.
    
    SINGAPORE CASH DEALS
    - Three gasoil trades, no jet fuel deals
    
    OTHER NEWS
    - Saudi Arabia, the world's top oil exporter, slashed prices of all crude grades to Asian
customers in October versus September, but left prices to northwestern Europe and the United
States steady.
    - Oil prices fell on Monday, extending losses after the world's top exporter Saudi Arabia
slashed crude contract prices for Asia over the weekend, reflecting well-supplied global markets
and concerns over the outlook for demand.

    ASSESSMENTS
 MID-DISTILLATES                                                                          
 CASH ($/T)            ASIA CLOSE       Change   % Change   Prev Close     RIC
 Spot Gas Oil 0.5%               76.04    -1.31      -1.69          77.35  GO-SIN
 GO 0.5 Diff                     -3.34     0.02      -0.60          -3.36  GO-SIN-DIF
 Spot Gas Oil 0.25%              76.14    -1.31      -1.69          77.45  GO25-SIN
 GO 0.25 Diff                    -3.24     0.02      -0.61          -3.26  GO25-SIN-DIF
 Spot Gas Oil 0.05%              76.33    -1.31      -1.69          77.64  GO005-SIN
 GO 0.05 Diff                    -3.05     0.02      -0.65          -3.07  GO005-SIN-DIF
 Spot Gas Oil 0.001%             79.63    -1.39      -1.72          81.02  GO10-SIN
 GO 0.001 Diff                    0.25    -0.06     -19.35           0.31  GO10-SIN-DIF
 Spot Jet/Kero                   76.27    -1.39      -1.79          77.66  JET-SIN
 Jet/Kero Diff                   -0.25     0.01      -3.85          -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 Ramakrishnan M.)
  
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