SINGAPORE, July 14 (Reuters) - Asia's cash discounts for jet fuel narrowed on Tuesday as the contango structure for the prompt month spread tightened, while refining margins for the aviation fuel edged higher on weaker crude prices. Traders remain worried that the aviation market might take longer than expected to recover as countries maintain border restrictions to prevent a resurgence in coronavirus cases. Many parts of Asia are finding cause to pause the reopening of their economies, some after winning praise for their initial responses to the outbreak. Cash discounts for jet fuelwere at 29 cents a barrel to Singapore quotes on Tuesday, compared with 34 cents per barrel a day earlier. The July/August time spread for jet fuel in Singapore traded at a discount of 50 cents a barrel on Tuesday, as against Monday's 60 cents, Refinitiv Eikon data showed. The jet market found some support after as flights on some domestic routes were restarted, but traders said many long-haul international flights remain grounded due to a renewed wave in COVID-19 infections which is dampening recovery hopes. For countries such as Vietnam, which has successfully contained its own outbreak and its airlines are quickly restoring domestic operations, a ban on international commercial flights still remains in place. Refining margins or cracks for jet fuel were up 15 cents at $1.41 a barrel over Dubai crude during Asian trade on Tuesday. The cracks have shed 44% in the last three weeks, Refinitiv data showed. SINGAPORE CASH DEALS - One gasoil deal, no jet fuel trades OTHER NEWS - China's June crude oil imports jumped by a third from the same period a year earlier, setting a second straight monthly record, as cheap cargoes bought during April's oil price crash arrived at Chinese ports. Customs data showed China's refined oil product exports for June were at 3.87 million tonnes, a fraction lower than 3.89 million tonnes in May, but down nearly 29% from the same month last year. - ZenRock Commodities Trading Pte Ltd is unlikely to continue its core oil trading businesses in the long term, its court-appointed supervisor KPMG Services said. ASSESSMENTS MID-DISTILLATES CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC Spot Gas Oil 0.5% 47.85 -0.64 -1.32 48.49 GO 0.5 Diff -0.80 0.03 -3.61 -0.83 Spot Gas Oil 0.25% 48.49 -0.64 -1.30 49.13 GO 0.25 Diff -0.16 0.03 -15.79 -0.19 Spot Gas Oil 0.05% 49.18 -0.64 -1.28 49.82 GO 0.05 Diff 0.53 0.03 6.00 0.50 Spot Gas Oil 0.001% 49.38 -0.61 -1.22 49.99 GO 0.001 Diff 0.73 0.06 8.96 0.67 Spot Jet/Kero 42.74 -0.47 -1.09 43.21 Jet/Kero Diff -0.29 0.05 -14.71 -0.34 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 Jane Merriman)
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