European jet cracks breach $5/b as summer travel starts

London (Quantum Commodity Intelligence) - Cracks for jet paper in Europe have climbed Tuesday amid the rally in Brent and signs of a recovery in demand for flying ahead of the summer holidays, broker data shows.

Without publication of spot prices on Monday because of a bank holiday, European jet prices will have an extra day of the Brent rally to adjust.

Cracks for June paper for jet cargoes arriving into Rotterdam and Le Havre were pegged at $5.05/b at 0930 UK time Tuesday, up around $0.23/b from Friday, Quantum data shows.

Data for Eurocontrol, the aviation safety agency, showed flights numbers in Europe were up 6% week-on-week for the seven-day ending May 31.