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
Latest posts by Reuters (see all)
- Indian Oil seeks LNG cargo for December delivery - November 19, 2019
- Over half of India’s coal-fired power plants set to miss emission norm deadline - November 16, 2019
- Indian Oil in talks with Rosneft to import Russian oil - November 12, 2019