SINGAPORE, Aug 17 (Reuters) - Asian jet fuel refining margins dropped for a fourth
consecutive session on Tuesday to their weakest level in more than 1-1/2 months, as airlines
across the globe reduced capacity for the remainder of the year. Refining margins, also known as cracks, for jet fuel slid to $5.36 per barrel
over Dubai crude during Asian trade, their lowest since June 30. They were at $5.39 per barrel a
day earlier. Scheduled seat capacity for global airlines in August is now expected to be 1.7% lower
compared with July, while capacity for the rest of the year has been reduced for every month
through December, according to aviation data firm OAG. China's flight capacity in the week to Monday was 26.7% lower compared with the
corresponding period in 2020, while seat capacity in Japan and South Korea this week were down
15.9% and 5.9% respectively, OAG data showed. Worries over rising cases of the infectious Delta variant in several countries has dented
hopes for aviation demand recovery in the near term, trade sources said. Japan was set to extend its state of emergency in Tokyo and other regions to Sept. 12 and
widen curbs to seven more prefectures, while cases in Sydney are expected to "rise
substantially" in the coming weeks despite a prolonged lockdown, authorities said on Tuesday. Cash premiums for jet fuel JET-SIN-DIF rose to 10 cents per barrel to Singapore quotes, up
from 5 cents per barrel on Monday. SINGAPORE CASH DEALS - Two jet fuel trades, two 10ppm gasoil deals OTHER NEWS - China will curb development of projects that use large amounts of energy and have high
carbon emissions, the country's state planner said on Tuesday. - OPEC and its allies, including Russia, believe oil markets do not need more oil than they
plan to release in the coming months, despite U.S. pressure to add supplies to check an oil
price rise, four sources told Reuters. ASSESSMENTS MID-DISTILLATES CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC Spot Gas Oil 0.5% 71.55 -0.56 -0.78 72.11 GO-SIN GO 0.5 Diff -3.25 -0.1 3.17 -3.15 GO-SIN-DIF Spot Gas Oil 0.25% 71.65 -0.56 -0.78 72.21 GO25-SIN GO 0.25 Diff -3.15 -0.1 3.28 -3.05 GO25-SIN-DIF Spot Gas Oil 0.05% 71.8 -0.51 -0.71 72.31 GO005-SIN GO 0.05 Diff -3 -0.05 1.69 -2.95 GO005-SIN-DIF Spot Gas Oil 0.001% 74.87 -0.4 -0.53 75.27 GO10-SIN GO 0.001 Diff 0.07 0.06 600.00 0.01 GO10-SIN-DIF Spot Jet/Kero 72.41 -0.42 -0.58 72.83 JET-SIN Jet/Kero Diff 0.1 0.05 100.00 0.05 JET-SIN-DIF For a list of derivatives prices, including margins, please double click the RICs below. Brent M1 Gasoil M1 Gasoil M1/M2 Gasoil M2 Regrade M1 Regrade M2 Jet M1 Jet M1/M2 Jet M2 Gasoil 500ppm-Dubai Cracks M1 Gasoil 500ppm-Dubai Cracks M2 Jet Cracks M1 Jet Cracks M2 East-West M1 East-West M2 LGO M1 LGO M1/M2 LGO M2 Crack LGO-Brent M1 Crack LGO-Brent M2 (Reporting by Koustav Samanta; Editing by Vinay Dwivedi)
