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JET FUEL: Persian Gulf Jet Fuel Premiums Hit 33-Month Low: Platts

JET FUEL
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The recent strength in the Singapore regrade spread, coupled with sluggish European prices pushed the FOB Persian Gulf cash diff to a 33-month low Sep. 19, Platts said. 

  • The FOB Persian Gulf jet fuel cargoes cash diff was $1.60/b to Mean of Platts Arab Gulf jet fuel assessments, the lowest since Jan. 6, 2022.
  • The decline came despite healthy demand for jet fuel in the UAE, with the arbitrage to Europe now shut. This means only UAE airports are pulling in Gulf jet fuel.
  • The combination of heavy supply and lower demand is weighing down the European jet fuel market price, with demand following its seasonal decline.
  • Heavy supply from East of Suez continues to add market length to Europe, with ARA jet fuel stocks also up 32% on the year.
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The recent strength in the Singapore regrade spread, coupled with sluggish European prices pushed the FOB Persian Gulf cash diff to a 33-month low Sep. 19, Platts said. 

  • The FOB Persian Gulf jet fuel cargoes cash diff was $1.60/b to Mean of Platts Arab Gulf jet fuel assessments, the lowest since Jan. 6, 2022.
  • The decline came despite healthy demand for jet fuel in the UAE, with the arbitrage to Europe now shut. This means only UAE airports are pulling in Gulf jet fuel.
  • The combination of heavy supply and lower demand is weighing down the European jet fuel market price, with demand following its seasonal decline.
  • Heavy supply from East of Suez continues to add market length to Europe, with ARA jet fuel stocks also up 32% on the year.