Asia Distillates-Gasoil refining margins post weekly gain

Air travel in Asia remains "heavily" compromised by COVID-19 restrictions, but recent easing of curbs in countries such as India and Malaysia was helping traffic to recover, the International Air Transport Association (IATA) said.

SINGAPORE: Asian refining margins for 10 ppm gasoil rose on Friday, and posted a weekly gain of 19%, buoyed by recovering demand amid limited regional supplies.

The gasoil cracks, however, have shed about 40% since hitting a record high of US$44.04 earlier this month as some Asian refiners ramped up output or delayed planned maintenance to cash in on higher profits.