SINGAPORE, Jan 11 (Reuters) - Asia"s cash differentials for jet fuel rose to their highest premiums in three weeks on Tuesday, while the prompt-month spread for the aviation fuel in Singapore widened its backwardated structure. Cash premiums for jet fuel jumped to 57 cents per barrel to Singapore quotes, the highest since Dec. 21, while the Jan/Feb time spread traded at 51 cents per barrel on Tuesday. The jet fuel market, however, is expected to remain under pressure in the near term as surging Omicron cases around the world continue to dampen aviation demand, trade sources said. Global scheduled flight seats have dropped 7.2% in the week to Monday, compared with the week before, while airlines have removed 8.7 million seats from their overall January capacity in the last week, according to aviation data firm OAG. An additional 8.3 million seats were also removed from the February-March schedule, OAG said. China"s flight capacity inched up 1.5% in the week to Monday, but seat capacity in India and Japan this week were down 6% and 4%, respectively, OAG data showed. "While the impacts from Omicron remain far from certain, what is clear so far is that domestic and international air travel booking have taken a hit in December setting the stage for continued weakness in air travel for Q1 2022," Fitch Solutions said in a note. Emerging data pointing to less severity and hospitalisation rates, however, would likely open the door to renewed air travel in the coming quarters, analysts at Fitch added. Refining margins or cracks for jet fuel dipped 8 cents to $12.55 per barrel over Dubai crude during Asian trade on Tuesday. SINGAPORE CASH DEALS - Two gasoil deals, no jet fuel trades OTHER NEWS - Oil prices climbed on Tuesday, with investors regaining some risk appetite as they await clues from the U.S. Federal Reserve chairman on potential interest rate rises and as some oil producers continued to struggle to beef up output. - Saudi Aramco has notified at least five Asian buyers that it will supply full contractual volumes of crude oil in February, same as January, sources with knowledge of the matter said on Tuesday. read more ASSESSMENTS MID-DISTILLATES CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC Spot Gas Oil 0.5% 92.67 -0.51 -0.55 93.18 GO 0.5 Diff -0.98 -0.09 10.11 -0.89 Spot Gas Oil 0.25% 92.87 -0.51 -0.55 93.38 GO 0.25 Diff -0.78 -0.09 13.04 -0.69 Spot Gas Oil 0.05% 93.26 -0.54 -0.58 93.8 GO 0.05 Diff -0.39 -0.12 44.44 -0.27 Spot Gas Oil 0.001% 94.42 -0.38 -0.40 94.8 GO 0.001 Diff 0.78 0.05 6.85 0.73 Spot Jet/Kero 92.17 0.15 0.16 92.02 Jet/Kero Diff 0.57 0.48 533.33 0.09 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
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