Singapore—The prompt inter-quarter spreads for gasoil and jet swaps hit multi-year lows Monday, reflecting a struggling middle distillates complex as it grapples with weak demand and a supply glut. The prompt Q4 2014/Q1 2015 FOB Singapore 500 ppm gasoil swap timespread fell 5 cents/barrel from Friday to hit a 2-year-low of minus 96 cents/b Monday. The last time the prompt inter-quarter differential was any lower was on August 22, 2012, when it was assessed at minus $1/b.
展开▼
