April 24, 2020 / 10:10 AM / a month ago

Asian refining margins for 10ppm gasoil plunge to record low

(Reuters) - Asian refining margins for the benchmark 10 ppm gasoil grade in Singapore slumped to a record low on Friday as the coronavirus continued to hurt fuel demand.

Refining margins, also known as cracks, for gasoil with 10 ppm sulphur content dropped to $5.27 a barrel over Dubai crude on Friday, the lowest on record in Refinitiv Eikon data that goes back to January 2014. They were at $6.09 a barrel a day earlier.

Crude oil prices fell on Friday and headed for their third weekly loss running as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis.

Reporting by Koustav Samanta; Editing by Susan Fenton

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