Asia middle distillates: Key market indicators this week
The Asian jet fuel and gasoil markets moved in divergent directions for the week beginning Jan. 11. While the jet fuel market was seen mixed on a combination of bearish aviation fundamentals but encouraging kerosene demand from North Asia, the gasoil market was seen rising on the back of firmer demand relative to the West.
ICE March Brent crude futures were up 87 cents/b at $55.63/b at 0300 GMT Jan. 11 from the 0430 GMT Asian close on Jan. 8.
JET FUEL/KEROSENE The balance month January-February jet fuel/kerosene timespread was weaker at minus 28 cents/b at 0300 GMT, widening 9 cent/sb from the Asian close on Jan. 8.
Asia middle distillates – Key market indicators this week
The Asian middle distillates market was at an even keel at the start of the week of Dec. 14, as sentiment in the gasoil complex stable on tight regional supply amid some buying interest, while the jet fuel/kerosene complex remained steady on conflicting indicators, and as buyers stayed on the sidelines, awaiting fresh pricing cues.
Front month February ICE Brent crude futures fell 39 cents/b to $50.10/b at 0300 GMT Dec. 14 from the 0830 GMT Asian close on Dec. 11.
JET FUEL/KEROSENE The jet fuel/kerosene market was steady mid-morning Dec. 14 from the previous session amid mixed indicators. Brokers pegged the balance month December-January jet fuel timespread at minus 40 cents/b at 0300 GMT, unchanged from the 0830 GMT Asian close on Dec 11.