Asian spot prices mostly dip as light, middle distillates show weakness.

摘要

Spot product prices were split in the week to April 10, with fuel oil prices inching up and light distillate and middle distillate prices easing back for the second week in a row. Gasoil and jet fuel sentiment found support late in the period on inventory data from Singapore that showed weekly stocks of middle distillates dropped to a near-three-month low. The upside was limited, however, and prices turned down as traders noted mat exports from South Korea, India, and Malaysia continued to flow to Singapore, and stocks were expected to rebound as regional and foreign refineries return from maintenance. Indonesia may increase its fuel imports later this year as it plans to reduce runs at one of its refineries amid cost-cutting measures, but several traders noted mat the impact to diesel import volumes could be minimal as the country's consumption of the fuel is seen sliding on reduced mining operations and a government push to blend more biodiesel. Gasoil margins fell on Thursday after a cargo from South Korean bound for Yemen turned around and headed back to Asia, as violence in the country forced Yemen's Aden Refinery to suspend the tender.