SINGAPORE, Sept 7 (Reuters) - Asian refining margins for jet fuel dipped on Tuesday, but stayed within close sight of a multi-month high touched last week, as pockets of aviation demand emerge with weekly rise in airline capacity in some markets. Refining margins or cracks for jet fuel were at $7.09 per barrel over Dubai crude during Asian trading hours, down 5 cents from a day earlier. The jet cracks hit $7.26 per barrel on Friday, their strongest since March last year. The jet fuel cracks have gained 17% in the last two weeks, but they are still currently 39% lower compared with their ten-year seasonal average for this time of the year, Refinitiv data showed. Scheduled seat capacity in China rose 6.2% in the week to Monday, while flight capacity in India and Australia gained 2.9% and 2.8%, respectively, according to aviation data firm OAG. "Recovery in China from the dramatic reduction in air services a month ago as a response to a new outbreak of COVID-19, more than compensates for the reduction in air travel taking place this week elsewhere across the globe," OAG said in a statement. Cash discounts for jet fuelnarrowed to 22 cents per barrel to Singapore quotes on Tuesday, thanks to a firmer deal in the physical market. They were at a discount of 25 cents on Monday. CHINA AUGUST CRUDE OIL IMPORTS RISE - China's daily crude oil imports rose 8% in August from a month earlier, customs data showed on Tuesday, as refiners resumed purchases following the issue of new import quotas. - China, the world's top crude oil buyer, brought in 44.53 million tonnes of oil last month, equivalent to 10.49 million barrels per day (bpd), according to data from the General Administration of Customs. - China's demand for crude oil is recovering after nearly five months of slower purchases, caused by a shortage of import quotas, with buyers increasing the pace of purchases and paying higher premiums to secure supplies. SINGAPORE CASH DEALS - One jet fuel deal, one gasoil trade OTHER NEWS - Oil prices were mixed on Tuesday as Saudi Arabia's sharp cuts in crude contract prices for Asia sparked fears over slower demand, but strong Chinese economic data capped losses. - More than 80% of oil production in the Gulf of Mexico remains shut in after Hurricane Ida, a U.S. regulator said on Monday, more than a week after the storm made landfall and hit critical infrastructure in the region. ASSESSMENTS MID-DISTILLATES CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC Spot Gas Oil 0.5% 76.46 0.42 0.55 76.04 GO 0.5 Diff -3.33 0.01 -0.30 -3.34 Spot Gas Oil 0.25% 76.56 0.42 0.55 76.14 GO 0.25 Diff -3.23 0.01 -0.31 -3.24 Spot Gas Oil 0.05% 76.75 0.42 0.55 76.33 GO 0.05 Diff -3.04 0.01 -0.33 -3.05 Spot Gas Oil 0.001% 80.08 0.45 0.57 79.63 GO 0.001 Diff 0.29 0.04 16.00 0.25 Spot Jet/Kero 76.73 0.46 0.60 76.27 Jet/Kero Diff -0.22 0.03 -12.00 -0.25 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 Rashmi Aich)
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