King of the barrel: will jet or diesel win the battle in 2023?

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King of the barrel: will jet or diesel win the battle in 2023?

The year 2023 did not start as expected: China suddenly dropped all COVID restrictions, boosting sentiment in the global jet market, while diesel prices fell despite the ban on Russian oil product imports into the EU from 5 February. As a result, European jet fuel cracks jumped above diesel, but the spread narrowed by the end of February and the two products are now neck and neck, raising the question of which one will be maximised by refiners, thus tightening the supply of the other in the coming months.

In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights experts Maxim Kotenev and Gary Clark join Francesco Di Salvo to discuss the outlook for the jet fuel market, its potential impact on other middle distillates and whether a recession is likely to prevent aviation from fully recovering from the pandemic.

Related price symbols:
Diesel: CIF ARA 10ppm ULSD cargoes #AAVBG00
Jet fuel: CIF NWE jet fuel cargoes #PJAAU00

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  • Refined Products

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