Asian jet cracks hit multi-month high, close in on diesel

London, (Quantum Commodity Intelligence) - Asian refining margins for jet kero hit multi-month highs during trade on Thursday, with both the spot and front month cracks rising for the fourth consecutive day.

Spot cracks versus July cash Brent climbed to $3.66/b basis FOB Singapore, according to Quantum data, doubling in just two weeks on air travel growth.

The June swap versus August cash Brent also rallied, climbing to $3.93/b on Thursday versus $3.72/b a day earlier.

Healthy spot demand was reported with one deal taking place in the Platts window at a premium of $0.20/b over the balance of May swaps – a figure that was marked at $72.80/b.

The rise in jet cracks comes amid a sharp fall-off in diesel demand, with the 10ppm spot crack falling from $4.62/b on Wednesday to $4.01/b on Thursday.

Jet kero for spot loading was assessed by Quantum at $72.80/b, just $0.35/b under 10ppm diesel – the lowest in more than a year.