SINGAPORE, June 29 (Reuters) - Asian refining margins for jet fuel slipped to their weakest in three weeks on Monday, despite lower raw material crude prices, as a resurgence in coronavirus cases in some countries dampened hopes for a recovery in aviation demand. Refining margins, also known as cracks, for jet fuel dropped to $1.29 a barrel over Dubai crude during Asian trading hours, the lowest level since June 5. The cracks were at $1.66 per barrel on Friday. The region's biggest aviation market China, which showed the first hopes of a demand recovery, is now dealing with a new wave of coronavirus cases in its capital city, while major tourism hub Vietnam said it has no plans to open up to international tourists yet over fears of a second wave of infections. "For jet fuel demand, we expect a slow recovery in China, even though economic activity has largely returned to normal," said Yuwei Pei, analyst at consultancy Wood Mackenzie. "The demand is estimated to see a persistent year-on-year decline throughout the year of 2020, and the recovery to pre-crisis levels will not occur until the beginning of 2021." The consultancy estimates jet fuel demand in China to reach 800,000 barrels per day in January 2021, a 1.3% increase over January 2020 and a 1.7% increase over January 2019. Cash discounts for jet fuel JET-SIN-DIF remained unchanged at 79 cents a barrel to Singapore quotes on Monday. PERTAMINA'S FUEL SALES RISE - Indonesia's state oil and gas company PT Pertamina said on Saturday its average daily fuel sales has risen to 114,000 kilolitres since June 8 amid gradual easing of coronavirus-related restrictions on movement. That represents a 10% increase from average daily sales during a period when some Indonesian cities imposed semi-lockdowns due to the outbreak, Pertamina said in a statement. SINGAPORE CASH DEALS - No jet fuel trades, no gasoil deals OTHER NEWS - Crude oil prices slid on Monday as sharp spikes in new coronavirus infections around the world forced some countries to resume partial lockdowns, raising concerns about the pace of economic recovery and fuel demand. ASSESSMENTS MID-DISTILLATES CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC Spot Gas Oil 0.5% 44.99 -1.33 -2.87 46.32 GO-SIN GO 0.5 Diff -1.00 0.03 -2.91 -1.03 GO-SIN-DIF Spot Gas Oil 0.25% 45.63 -1.33 -2.83 46.96 GO25-SIN GO 0.25 Diff -0.36 0.03 -7.69 -0.39 GO25-SIN-DIF Spot Gas Oil 0.05% 46.52 -1.33 -2.78 47.85 GO005-SIN GO 0.05 Diff 0.53 0.03 6.00 0.50 GO005-SIN-DIF Spot Gas Oil 0.001% 46.76 -1.33 -2.77 48.09 GO10-SIN GO 0.001 Diff 0.77 0.03 4.05 0.74 GO10-SIN-DIF Spot Jet/Kero 40.43 -1.36 -3.25 41.79 JET-SIN Jet/Kero Diff -0.79 0.00 0.00 -0.79 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 Maju Samuel)
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