Discounts on gasoil cargoes in Asia fell against spot benchmarks. Royal Dutch Shell Plc bought two gasoline cargoes in Singapore.
Middle Distillates
Glencore International AG bought two cargoes, each containing 150,000 barrels of gasoil with 0.5 percent sulfur, according to a Bloomberg News survey of traders monitoring the Platts window today. The European trader agreed to pay a discount of 35 cents a barrel below benchmark prices to Brightoil Petroleum Holdings and purchased the other cargo from Singapore Petroleum Co. at a discount of 30 cents.
That compares with a discount of as much as 40 cents below benchmark quotes paid for similar-sized cargoes yesterday.
Vitol Group sold 150,000 barrels of gasoil with 10-parts- per-million of sulfur, a higher-quality diesel fuel, to Shell at a premium of $2.60 a barrel over prices of gasoil with 0.5 percent sulfur.
Mitsui & Co. sold 150,000 barrels of gasoil with 10-parts- per-million of sulfur to BP Plc at a premium of $2.50 a barrel over prices of gasoil with 0.5 percent sulfur.
Gasoil’s crack spread over Dubai crude rose 64 cents to $18.32 a barrel at 6:19 p.m. Singapore time, according to data from PVM Oil Associates Ltd., a broker.
Light Distillates
Shell bought 50,000 barrels of 97-RON gasoline from Vitol at $133.10 a barrel and 50,000 barrels of 95-RON from Total SA at $130.70 a barrel, the survey showed.
Naphtha’s premium to London-traded Brent crude futures, a measure of profitability for refiners, rose to $118.20 a ton at 6:10 p.m. Singapore time from $102.30 a ton at the end of trading in Asia yesterday, based on data compiled by Bloomberg.
Fuel Oil
Shell bought 20,000 tons of 380-centistoke fuel oil at $665 a ton from Hin Leong Trading Pte, the survey showed. Vitol sold a similar cargo to PetroChina Co. at a premium of $4 a ton to 380-centistoke fuel oil prices published by Platts.
Fuel oil’s discount to Dubai crude widened $1.27, or 22 percent, to $6.98 a barrel at 2:18 p.m. Singapore time, PVM said. The premium of 180-centistoke fuel oil to 380-centistoke was at $10.75 a ton from $8.25 yesterday, PVM said.
To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.net
To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net
