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Asia’s Jet Fuel Prices Struggle for Support Despite Demand Uptick: Platts

JET FUEL

While the regions aviation activity has grown, this has not directly translated into gains for Asia’s jet fuel market amid supply issues, Platts said.

  • A persistently poor arbitrage from the USWC and Europe has caused a glut in regional supply, but stabilising freight costs have opened up these arbitrage opportunities again.
  • Meanwhile, jet fuel outflows from China totalled 8m mt, compared to just half that each for diesel and gasoline.
  • This could drive a downside for Asian jet fuel prices in the coming months.
  • Asian output should rise in Q2, although Japan’s production should fall due to refinery capacity rationalisation and lower kerosene consumption in Q2 after a milder winter.
  • In Q3, Asia’s jet fuel production is seen rising by 12k b/d year-on-year.
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