Asia’s gasoil crack spread widened as Glencore International AG bought more cargoes in Singapore. Brightoil Petroleum Holdings Ltd. sold fuel oil, and Royal Dutch Shell Plc bought gasoline. Middle Distillates Glencore brought its purchases of 0.5 percent-sulfur gasoil, or diesel, in Singapore this month to at least 26 cargoes totaling 4.3 million barrels, according to a Bloomberg News survey of traders monitoring transactions on the Platts window. The world’s largest commodities trader paid 40 cents a barrel below benchmark quotes to Singapore Petroleum Co. and minus 50 cents to Shell. Shell also sold 150,000 barrels of gasoil to Hin Leong Trading Pte at a 50-cent discount, the survey showed. Gasoil’s premium to Asian benchmark Dubai crude increased 14 cents to $18.17 a barrel at 3:11 p.m. Singapore time, according to PVM Oil Associates, a broker. This crack spread, a measure of refining profit, narrowed in the past three days. Jet fuel’s premium to gasoil increased for a sixth day, climbing 10 cents to $1.85 a barrel, PVM said. This regrade is in the longest rising streak since February, indicating it is more profitable to produce aviation fuel over diesel. Fuel Oil Fuel oil’s discount to Dubai crude narrowed 5 cents to $7.09 a barrel at 3:30 p.m. Singapore time, according to PVM. That indicates reduced losses for refiners turning oil into residual products. Brightoil brought its sales of 180-centistoke fuel oil in Singapore this month to at least 34 cargoes totaling 768,000 metric tons, according to the Bloomberg survey. The Hong Kong trader sold 20,000 tons to Vitol Group at $3 a ton over benchmark quotes and two cargoes to BP Plc at a $2.50 premium. Hin Leong purchased 380-centistoke fuel oil for a fourth day, paying $3.25 a ton over quotes to Kuo Oil Ltd. and plus $4.50 to Westport Petroleum Inc., the survey showed. The premium of 180-centistoke fuel oil to 380-centistoke grade was unchanged after declining to $9.75 a ton, PVM said. A narrow viscosity spread shows bunker, or marine fuel, gained more than higher-quality fuel oil. Light Distillates Shell, the largest buyer of 97-RON gasoline this month in Singapore, purchased 50,000 barrels from Morgan Stanley at $130.90 a barrel, according to the Bloomberg survey. Europe’s biggest oil company yesterday bought a similar cargo at $131 a barrel. Trafigura Beheer BV sold 50,000 barrels of 92-RON grade to Total SA at a premium of 60 cents above prices published by Platts. Naphtha for delivery to Japan in the first half of October traded $1 a ton lower than second-half September cargoes, the survey showed. BP sold 25,000 tons for first-half October to Total at $1,004 a ton. Shell sold 25,000 tons for second-half September to Noble Group at $1,005. Naphtha’s premium to London-traded Brent crude futures, or the crack spread, rose to $115.87 a ton at 5:35 p.m. Singapore time from $109.91 at the end of Asian trading yesterday, according to data compiled by Bloomberg. To contact the reporters on this story: Yee Kai Pin in Singapore at kyee13@bloomberg.net; Ann Koh in Singapore at akoh15@bloomberg.net To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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