Jet fuel east-west physical spread

This cash assessment applies a freight cost to the jet fuel east-west paper spread, but reversed to point west, to give a theoretical value of the physical arbitrage between Europe and Asia. The freight rate used is for a 90,000 mt clean product tanker from Singapore to ARA. The jet fuel east-west spread is the front month contract taken at the Singapore cash market close, but reversed to reflect the value of jet fuel CIF NWE swaps minus jet kerosene FOB Singapore swaps.