SINGAPORE, Sept 28 (Reuters) - Asia's 10ppm gasoil refining margin rose 8.8% to a four-session high of $2.34 a barrel on Monday as weaker oil prices and low refinery runs provided support. - Prices of Dubai crude, a feedstock for middle distillates, eased 1.45% on Monday versus Friday. - Lower feedstock prices typically raise margins. - Additionally refiners in the world keeping throughput at low levels in view of bad demand has helped prevent the glut from deepening, industry sources said. - Indian refiners, such as Bharat Petroleum Corp Ltd (BPCL) for instance, are not likely to raise runs despite improved gasoline demand. - This is to avoid middle distillates supplies from increasing further as demand for diesel is still lagging. - BPCL added while September gasoline sales are about the same as a year ago, sales of diesel this month are 8-9% lower than the pre-pandemic level. * CASH DEALS: No deals seen. - There were at least six jet fuel offers but buyers were absent. * OTHER NEWS: The provincial tax office in China's oil refining hub of Shandong has urged local refiners to make payments to the government risk reserve fund to cover periods this year when crude oil dropped below $40 a barrel. According to a Beijing policy set in 2016, local refiners are to pay their profit margins to a central government fund whenever oil prices sink below $40 a barrel, which is the floor price for retail gasoline and diesel. MID-DISTILLATES CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC Spot Gas Oil 0.5% 41.68 -0.71 -1.67 42.39GO 0.5 Diff -1.95 0.00 0.00 -1.95 Spot Gas Oil 0.25% 42.08 -0.56 -1.31 42.64 GO 0.25 Diff -1.55 0.15 -8.82 -1.70 Spot Gas Oil 0.05% 42.38 -0.71 -1.65 43.09 GO 0.05 Diff -1.25 0.00 0.00 -1.25 Spot Gas Oil 0.001% 43.08 -0.60 -1.37 43.68 GO 0.001 Diff -0.55 0.11 -16.67 -0.66 Spot Jet/Kero 40.65 -0.34 -0.83 40.99 Jet/Kero Diff -1.00 0.05 -4.76 -1.05 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 10ppm-Dubai Cracks M1 Gasoil 10ppm-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 Seng Li Peng; Editing by Aditya Soni)
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