Asia’s cash discounts for jet fuel narrowed by a cent on Wednesday but remained near this year’s weakest levels of cash differentials amid a lingering supply glut, while the front-month spread shrunk its contango structure.
Cash discounts for jet fuel were at $1.19 a barrel to Singapore quotes on Wednesday, compared with a discount of $1.20 a barrel on Friday. Singapore oil markets were closed on Dec. 24-25.
Jet fuel cash differentials will probably remain more or less static around current levels at least for a couple of weeks unless some unplanned refinery outages impact immediate supply, trade sources said.
The January/February time spread narrowed to 42 cents a barrel on Wednesday, compared with 44 cents per barrel on Friday. Read More
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