Gasoil margins extend losses on cautious sentiment
Asia’s 10 ppm sulphur gasoil margins extended losses for a second consecutive session, as cautious trading sentiment continue to weigh on discussion levels and market activity on Tuesday. This was following a drop in overnight heating oil futures in the U.S. and weaker margins in northwest Europe. Thin market liquidity however cushioned market weakness, with market participants noting more tenders in the market for jet fuel instead of 10 ppm sulphur gasoil. Economics for selling jet fuel are significantly better in comparison with gasoil, one northeast Asian refiner said. Refining ...
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