Asia’s gasoil traded at a discount to the spot benchmark grade after Glencore International AG sold the fuel for a third day in Singapore, the region’s biggest oil- trading center. Naphtha’s crack spread rebounded. Middle Distillates Glencore sold 150,000 barrels of 0.5 percent sulfur gasoil, or diesel, to BP Plc at 45 cents a barrel below benchmark quotes, according to a Bloomberg News survey of traders monitoring transactions on the Platts window. That’s the same discount as the previous reported transaction on Aug. 5. Glencore, the world’s largest commodities trader, was the biggest gasoil buyer in Singapore last month, purchasing at least 4 million barrels. Gasoil’s premium to Asian benchmark Dubai crude rose 9 cents to $19.30 a barrel at 2:21 p.m. Singapore time, according to PVM Oil Associates Ltd., a broker. This crack spread, a measure of refining profit, widened 6 percent last week, the most in five weeks. Jet fuel’s premium to gasoil climbed 5 cents to $1.60 a barrel, PVM said. This regrade fell 45 cents, or 23 percent, last week, indicating it was less profitable to produce aviation fuel over diesel. Light Distillates Japan’s open-specification naphtha forward contracts for second-half September delivery were bid at $908 a metric ton against offers at $910, according to Ginga Petroleum Singapore Pte, a broker. Prices last week closed at $905.38, the lowest since June 29, based on data compiled by Bloomberg. Naphtha’s premium to London-traded Brent crude futures rebounded $24.71 to $106.10 a ton at 5:50 p.m. Singapore time, Bloomberg data showed. This crack spread last week dropped 32 percent, the most in five weeks. Fuel Oil Fuel oil’s discount to Dubai crude narrowed 34 cents to $4.48 a barrel at 2:21 p.m. Singapore time, according to PVM. That’s the smallest gap since June 27, signaling reduced losses for refiners turning oil into residual products. The premium of 180-centistoke fuel oil to 380-centistoke was unchanged after dropping to $8.75 a ton, PVM said. This viscosity spread narrowed for a third week last week, meaning bunker, or marine fuel, fell less than higher-quality fuel oil. To contact the reporter on this story: Yee Kai Pin in Singapore at kyee13@bloomberg.net To contact the editor responsible for this story: Jane Lee at jalee@bloomberg.net

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