At the beginning of May, the Asian distillate aviation fuel cash spread was converted to a premium for the first time

China Petrochemical News Net, according to ICIS-MRC website in Moscow on May 24, according to Reuters, in early May of this year, the cash spread of Asian jet fuel turned into a premium for the first time, partly due to stronger spot market transactions and stronger jet fuel prices.

According to trade sources, the Asian aviation fuel market is gaining support from the recovery of aviation demand in key markets such as Australia, but due to India’s blockade due to the epidemic, further increases will be limited in the short term.

Hao Fen translated from ICIS-MRC

The original text is as follows:

Asia distillates-jet fuel cash differentials flip to premiums for the first time in 2021

Asia's cash differentials for jet fuel flipped into premiums for the first time this year in early May, partly supported by firmer deals in the physical market, while prompt-month spread for the aviation fuel stood at its narrowest contango in more than two months, reported Reuters.

The jet fuel market in Asia is getting support from recovering aviation demand in key markets including Australia, but any further upside would be capped in the near term due to COVID-19 lockdowns in India, trade sources said.