Spot premiums for gasoil fell on Tuesday on lower-priced offers, while market backwardation also weakened from the prior day.
The product cash differential slipped to 93 cents a barrel, a near six-week low, while the inter-month spread between March and April narrowed 5 cents day-on-day to $1.05 a barrel at the Asia close.
Selling interest persisted in the spot market, though this was met with thin buying interest.
Meanwhile, cracks for gasoil rebounded slightly to close at $24 a barrel, LSEG data showed, largely tracking a rebound in European margins in the previous session.
On the jet fuel front, cash premiums and market backwardation have also weakened in recent sessions amid thin activity.
Source: Hellenic Shipping News
