1. Jet and gasoil prices received a boost from arbitrage shipments to North and South America, and to Europe. Gasoline found support as shipments from India that would otherwise have headed for Asia-Pacific were diverted to the Middle East. Fuel oil values remained under pressure from shipments heading to Asia-Pacific, while naphtha jumped on strong regional demand. 2. Jet-kerosine prices received a boost from arbitrage opportunities to ship surplus cargoes to the US west coast from northeast Asia, as well as from a drop in inventories in Singapore. But with the rise in gasoil prices outpacing jet, the regrade — the spread between jet-kerosine and gasoil — narrowed to around 1.30/bl, from 1.70/bl a week earlier.
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