Chinese refiners suspend October fuel exports, one cancels cargoes, sources say

By Trixie Yap, Siyi Liu and Chen Aizhu

SINGAPORE, Oct 1 (Reuters) - Chinese refiners have suspended exports of oil products to regions beyond Hong Kong and Macau until further notice from Beijing, four people briefed on the matter said on Thursday.

As China looks to safeguard domestic supplies, state oil major PetroChina 601857.SS cancelled on Wednesday a handful of its gasoline and jet fuel shipments that were planned for October, three of the sources said.

It had committed to most of these now-cancelled deals in the past two weeks, the three sources added.

The suspension of Chinese products exports will further constrain global markets that are grappling with the loss of supplies from the Middle East and Russia and could drive prices in some countries to new highs.

China started its week-long holiday on Thursday without giving the green light to major refiners at the world's largest refining hub to export oil products to regions outside of Hong Kong and Macau.

Another major refiner, privately controlled Zhejiang Petrochemical Corp (ZPC), skipped scheduling any oil product shipments during the holiday week, the fourth source said.

PetroChina, ZPC and the National Development and Reform Commission did not immediately respond to a Reuters request for comment amid the holiday break.

It is not clear if Beijing would resume permitting refiners' exports after the holiday ends on October 7, the sources said, adding that it could depend on domestic fuel inventories and refining output.

Asian diesel refining margins rebounded to the highest in a week at around $75 a barrel, with the October-November price spreads trading at a two-week peak on concerns of tighter supplies. ,