SINGAPORE: Asia’s cash premiums for jet fuel dipped on Monday amid concerns that fresh travel curbs due to the Omicron coronavirus variant in some countries would slow aviation demand.
Cash differentials for jet fuel were at a premium of 32 cents per barrel to Singapore quotes, down from a 34 cent premium on Friday and its lowest since Nov. 29.
Refining margins or cracks for jet fuel, however, held largely steady at $11.72 per barrel over Dubai crude during Asian trading hours, compared with $11.73 per barrel on Friday.
The steady refining margin came despite higher crude oil prices during Asian. But prices later gave up those gains as the Omicron coronavirus variant, and doubts around the effectiveness of vaccines against it, weighed on prices.
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