MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI: SWEDEN NOV UNEMPLOYMENT 7.4%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JET FUEL: Singapore Jet Fuel Imports to Hit Multi-Year High: Reuters

JET FUEL
BulletEnergy BulletsCommodities

Singapore’s September jet fuel imports are seen reaching multi-year highs, according to Reuters, as China boosts exports and locally produced supply falls.

  • Singapore’s jet fuel imports are seen at 2.13m bbl for September, Kpler said, up 345k bbl from August and the highest since April 2020.
  • China’s jet fuel exports to Singapore are set to hit a four year high, with the margins attractive relative to other products.
  • Stronger demand is being driven by a shortage of locally produced jet fuel as several refineries have been scheduled maintenance since mid-August.
  • The tightness may boost regrade price spreads (jet fuel – gasoil diff), which narrowed from an average of minus 46 cents/b in August to 19 cents/b in Sep. However, arrivals of Chinese barrels may cap upside.
  • Several analysts expect China to continue capitalising on exports, but how long the trend lasts is unclear.
138 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Singapore’s September jet fuel imports are seen reaching multi-year highs, according to Reuters, as China boosts exports and locally produced supply falls.

  • Singapore’s jet fuel imports are seen at 2.13m bbl for September, Kpler said, up 345k bbl from August and the highest since April 2020.
  • China’s jet fuel exports to Singapore are set to hit a four year high, with the margins attractive relative to other products.
  • Stronger demand is being driven by a shortage of locally produced jet fuel as several refineries have been scheduled maintenance since mid-August.
  • The tightness may boost regrade price spreads (jet fuel – gasoil diff), which narrowed from an average of minus 46 cents/b in August to 19 cents/b in Sep. However, arrivals of Chinese barrels may cap upside.
  • Several analysts expect China to continue capitalising on exports, but how long the trend lasts is unclear.