SINGAPORE, Sept 25 (Reuters) - Asia's cash discounts for 10 ppm gasoil widened on Friday, hurt by subdued buying interest for physical cargoes amid abundant supplies available in the region. Cash differentials for 10 ppm gasoilwere at a discount of 66 cents a barrel to Singapore quotes on Friday, compared with a discount of 63 cents per barrel a day earlier. The gasoil spot discounts have more than doubled over the last one month. Higher gasoil exports from China and India last month have added to an existing supply glut, especially as lack of arbitrage opportunities are keeping the barrels trapped within the region, trade sources said. India's gasoil exports this month are expected to close slightly higher than August, while Chinese exports would likely remain elevated through the fourth quarter, Refinitiv oil research assessments showed. The exchange of futures for swaps (EFS), which determines the gasoil price spread between Singapore and Northwest Europe, traded around minus 92 cents per tonne on Friday, typically making it unworkable for arbitrage shipments. Arbitrage is usually profitable when the EFS trades at about minus $15 a tonne or below, though it also depends on other factors such as freight rates, according to traders. Refining profit margins for 10 ppm gasoil, which have dropped about 27% this week, were up 18 cents on Friday at $2.15 a barrel over Dubai crude during Asian trading hours. ARA STOCKS - Gasoil stocks held independently in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub dropped 5.5% to 2.8 million tonnes in the week to Sept. 24, data from Dutch consultancy Insights Global showed. - The data showed ARA jet fuel inventories fell 1.7% to 938,000 tonnes. - Compared with a year earlier, ARA gasoil inventories were down 0.2%, while jet fuel stocks were 43% higher. SINGAPORE CASH DEALS - No gasoil deals, no jet fuel trades OTHER NEWS - Crude oil processed by Indian refiners slipped 26.4% from a year ago in August, the most in four months, as fuel demand remained subdued on sky-rocketing coronavirus cases that hindered industrial and transport activity. - Oil prices edged higher on Friday but were set for a weekly decline due to increasing concerns about the impact on fuel demand of a widespread resurgence in coronavirus infections, as well as some concern about the likely return of exports from Libya. ASSESSMENTS MID-DISTILLATES CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC Spot Gas Oil 0.5% 42.39 0.99 2.39 41.40 GO 0.5 Diff -1.95 0.07 -3.47 -2.02 Spot Gas Oil 0.25% 42.64 0.99 2.38 41.65 GO 0.25 Diff -1.70 0.07 -3.95 -1.77 Spot Gas Oil 0.05% 43.09 0.99 2.35 42.10 GO 0.05 Diff -1.25 0.07 -5.30 -1.32 Spot Gas Oil 0.001% 43.68 0.89 2.08 42.79 GO 0.001 Diff -0.66 -0.03 4.76 -0.63 Spot Jet/Kero 40.99 1.44 3.64 39.55 Jet/Kero Diff -1.05 0.07 -6.25 -1.12 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 Krishna Chandra Eluri)
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