SINGAPORE, Jan 20 (Reuters) - Asia’s diesel market activity on the trading window stayed tepid, with timespreads easing slightly from the previous trading session and February refiner sales still ongoing.
Traders were eyeing the number of export cargoes from China expected for next month, against a backdrop of squeezed export margins and weak domestic demand.
China’s February diesel export estimates were at 250,000-300,000 metric tons, while jet fuel exports are likely to hit 2.1 million tons, according to several trade sources.
Meanwhile, some February sale tenders from India-based refiners surfaced, in line with expectations. (MDIS/TENDA)
Refining margins (GO10SGCKMc1) inched up slightly from the previous session to around $20 a barrel, remaining around one-month highs.
Physical cargo spot activity on the window stayed thin, with cash differentials (GO10-SIN-DIF) barely moving at premiums of 15 cents per barrel.
For jet fuel, Indonesia’s Pertamina was back seeking an end-January delivery cargo via a reissued procurement tender.
Regrade (JETREG10SGMc1) declined to its narrowest in three weeks of around 10 cents premium per barrel.
<h3>SINGAPORE CASH DEALS (O/AS)</h3>
<ul>
<li>No deal for gasoil or jet fuel</li>
</ul>
NEWS - China’s crude oil imports from top supplier Russia fell 0.7% year-on-year in December to 9.33 million metric tons, or 2.2 million barrels per day, but hit the highest level for 2025. - Oil prices were steady on Tuesday as investors monitored U.S. President Donald Trump’s threats of higher tariffs on European states over his drive to acquire Greenland, while firmer global economic growth expectations and better-than-expected economic data from China gave prices a floor. (O/R) - Ultra-low-sulphur diesel loadings from the Russian port of Primorsk may rise in January by about one-third in January from December and exceed 2.2 million metric tons, supported by higher fuel output and seasonally weaker domestic demand, data from traders and LSEG and Reuters calculations showed on Tuesday.
<h3>PRICES</h3>
<h3>MIDDLE DISTILLATES</h3>
CASH ($/BBL) ASIA Chang Prev RIC
CLOSE e Close
Spot Gas Oil 0.25% 82.35 0.44 81.92 (GO25-SIN)
GO 0.25 Diff -0.09 -0.01 -0.08 

F&gt;
Spot Gas Oil 0.05% 82.25 0.44 81.82 (GO005-SIN)
GO 0.05 Diff -0.19 -0.01 -0.18 

IF&gt;
Spot Gas Oil 0.001% 82.59 0.44 82.16 (GO10-SIN)
GO 0.001 Diff 0.15 -0.01 0.16 

F&gt;
Spot Jet/Kero 83.63 0.00 83.63 (JET-SIN)
Jet/Kero Diff 0.99 -0.06 1.05 

<blockquote></blockquote>
For a list of derivatives prices, including margins, please
double click the RICs below.
Brent M1 (BRENTSGMc1)
Gasoil M1 (GOSGSWMc1)
Gasoil M1/M2 (GOSGSPDMc1)
Gasoil M2 (GOSGSWMc2)
Regrade M1 

*
Regrade M2 

*
Jet M1 (JETSGSWMc1)
Jet M1/M2 

*
Jet M2 (JETSGSWMc2)
Gasoil 500ppm-Dubai (GOSGCKMc1)
Cracks M1
Gasoil 500ppm-Dubai (GOSGCKMc2)
Cracks M2
Jet Cracks M1 (JETSGCKMc1)
Jet Cracks M2 (JETSGCKMc2)
East-West M1 (LGOAEFSMc1)
East-West M2 (LGOAEFSMc2)
LGO M1 (LGOAMc1)
LGO M1/M2 (LGOASPDMc1)
LGO M2 (LGOAMc2)
Crack LGO-Brent M1 (LGOACKMc1)
Crack LGO-Brent M2 (LGOACKMc2)

Asia's diesel market remains subdued, with timespreads easing slightly amid ongoing February refiner sales. Traders are monitoring China's expected diesel exports of 250,000-300,000 metric tons and jet fuel exports of 2.1 million tons. Refining margins have increased slightly to around $20 per barrel. Physical cargo activity is thin, with cash differentials stable at premiums of 15 cents per barrel. Indonesia's Pertamina is seeking jet fuel deliveries, while China's crude oil imports from Russia fell 0.7% year-on-year in December, despite reaching a high for 2025.

Reuters

SINOPEC CORP

PETROCHINA

CNOOC

CHK OIL

ChinaAMC CSI Petrochemical Industry ETF

China Universal CSI Oil & Gas Resources ETF

Bosera CSI Oil & Gas Resources Index ETF

Sinopec Corp.

Yinhua CSI Oil & Gas Resources ETF

E Fund CSI Petrochemical Industry ETF

Guotai CSI Oil & Gas Industry ETF

Asia Distillates-Diesel timespreads ease slightly despite thin trade; Feb refiner sales ongoing