Overview
Jet fuel market volatility, whether from crude prices, supply issues from refining capacity, or ongoing regulation changes, is a continual risk to your bottom line.
Having a choice in fuel pricing is the best way to mitigate risk and stay on top of market changes. Argus constructs price indexation in a way that is appropriate for each market. By doing so, market participants can align their day-to-day operations, improve management of fuel costs and directly impact their net earnings.
Jet fuel makes up more than 40% of an airline’s total operating expense. The rise in importance of sustainable aviation fuel (SAF) from government mandates and self-regulations from airlines has a direct implication on these operating costs.
Argus helps the jet fuel market participants to make informed decisions and optimize their strategies with price assessments and information on deals done for conventional jet fuel and SAF, as well as the latest market-moving news, in-depth analysis, supply and demand dynamics, and price forecasts.
Latest jet fuel news
Browse the latest market moving news on the global jet fuel industry.
Iran’s blacklist threatens Gulf product STS flows
Iran’s blacklist threatens Gulf product STS flows
Dubai, 25 August (Argus) — Iran's new tanker blacklist threatens to restrict the ship-to-ship (STS) transfers that have helped keep Mideast Gulf product exports moving through the strait of Hormuz, with shipping sources warning that further additions could disrupt the workaround. Listed vessels face penalties on future Hormuz transits, while ships carrying out STS transfers or other commercial operations with them could also be deemed non-compliant, Iran's Persian Gulf Strait Authority (PGSA) said on 24 August. Shipping sources warned that further additions to the list could reduce the pool of shuttle tankers available to ferry cargoes through the strait. The workaround relies on shuttle tankers carrying cargoes through the strait before transferring them to onward vessels in safe-water STS operations off Oman. At least two vessels on the PGSA's non-compliant list have recently carried out such operations involving oil products, ship-tracking data from Kpler show. Adnoc-owned Jarnain carried out at least two STS transfers this year. It loaded at Ruwais in the UAE in early June before transferring around 600,000 bl of naphtha to the Tortuga , which delivered the cargo to South Korea's Yeosu refinery on 11 July. Jarnain loaded again at Ruwais in early August before transferring around 700,000 bl of oil products for delivery to northwest Europe. Another listed vessel, the Navig8 Messi , transferred around 500,000 bl of gasoil off Sohar in Oman on 9 August after loading at Ruwais on 24 July. Vessels that have recently transited the strait of Hormuz along the Omani side are coming under closer scrutiny, as the market assesses whether voyage and STS histories could influence further additions to the PGSA list, shipping sources said. This route through Hormuz is also considerably more expensive. Additional war risk premiums (AWRPs) for a Long Range 1 (LR1) tanker are currently six to seven times higher than on the Iranian-designated route, a shipbroker said. No new formal charter party clauses or compliance guidance have emerged, but brokers said PGSA-listed vessels could become harder to book or use for STS operations. Despite the growing risk, STS transfers remain an important option for moving oil products out of the Mideast Gulf while conventional transit through the strait of Hormuz remains disrupted. Seven vessels carried out STS activity in August, only slightly below eight in July, Kpler data showed. At least four of the August vessels were carrying naphtha and one jet fuel, while three were Kuwaiti-owned and the remainder were Adnoc-chartered. At least seven Adnoc-chartered vessels and seven Kuwaiti-owned vessels have carried out STS transfers since the activity picked up in May. More product cargoes are set to move via the same STS route this month. Last week, Adnoc chartered at least three vessels to ship out 110,000t of naphtha and 60,000t of jet fuel over 28 August-3 September, underscoring the continued reliance on offshore transfers to keep product flows moving out of the region. By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Outbound Hormuz transits drop to zero
Outbound Hormuz transits drop to zero
New York, 25 August (Argus) — No vessels exited the strait of Hormuz over the past 24 hours, following increased Iranian enforcement action including an attack on an oil tanker traveling within the US-supported southern transit corridor near the Omani coast. A total of four vessels entered the strait of Hormuz on 24 August, including three vessels on the northern transit lane and one tanker on the southern lane with no outbound transits recorded, according to maritime security firm Windward. The amount of vessel traffic on the southern lane in particular has come under increased scrutiny in recent weeks with the US claiming higher amounts of traffic through the waterway than can be corroborated independently. There may have been at least one other vessel transit via the southern lane that was aborted after an oil tanker was hit off the coast of Oman, disabling the vessel but leaving the crew uninjured, according to the UK Maritime Trade Organization (UKMTO). Meanwhile, Iran's newly established Persian Gulf Strait Authority's declaration of 46 vessels as non-compliant is raising concerns that more shipowners may choose to avoid Mideast Gulf trades altogether. The strike is likely to be an enforcement action by the Iranians who are seeking to consolidate their control over traffic through the strait of Hormuz by attacking vessels on their non-preferred transit lanes. Iranian attacks on vessels traveling near Oman have accounted for 14 out of the 16 projectile strike incidents on commercial vessels in the strait of Hormuz reported since 6 July, per UKMTO. Traffic through the strait of Hormuz since the breakout of the war at the end of February has largely been bifurcated between the northern Iranian-controlled lane and the southern, US-assisted transit lane, with the center lane used prior to the conflict believed by shippers to be mined. US president Donald Trump said in a social media post on Tuesday that "all mines have been removed and/or detonated from within the international waters of the Strait of Hormuz" warning Iran not to place new mines citing a "Zero Tolerance policy on mine placement in full force and effect." But shippers avoiding Iran's northern corridor will likely remain concentrated on Omani coastline transits as long as Iranian attacks continue even if the center of the strait was totally demined just given the increased distance from drone and missile launch sites. Meanwhile, Oman's Foreign Minister Badr Albusaidi on 24 August arrived in Tehran, where Iran and Oman are currently holding talks on the strait of Hormuz. Iran and Oman engaged in negotiations at the start of August on management of vessel traffic through the strait of Hormuz which would give Iran complete oversight on vessels entering the Mideast Gulf, which prompted the international shipping community to express concern that proposed plan would fall short of the principles of freedom of navigation. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Brazil expands Petrobras SAF co-processing
Brazil expands Petrobras SAF co-processing
Sao Paulo, 24 August (Argus) — Brazilian oil regulator ANP has expanded state-controlled Petrobras' authorization to co-process renewable feedstocks for sustainable aviation fuel (SAF) at its 252,000 b/d Henrique Lage (Revap) refinery in Sao Paulo. Revap is allowed to co-process renewable feedstocks in both its U-272N and U-272Q hydrotreating units. The regulator also increased the renewable-feedstock limit to 1pc by volume from 0.8pc under the previous authorization, which covered only the U-272N unit. ANP's authorization, published on 17 August, could increase the refinery's capacity to produce renewable content for SAF by up to 2.5 times, Petrobras told Argus . The renewable content from Revap can be used to produce SAF at Petrobras' 239,000 b/d Duque de Caxias refinery in southeastern Rio de Janeiro state, which has an SAF production capacity of 10,500 b/d. Petrobras is Brazil's only SAF producer, but other companies are also pursuing SAF projects in Brazil. Energis8, for instance, plans to produce around 1bn liters/year (17,340 b/d) by 2031. By Beatriz Pacheco Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Hormuz traffic low despite US claims of control
Hormuz traffic low despite US claims of control
New York, 12 August (Argus) — Vessel traffic through the strait of Hormuz remains severely disrupted, weighing on global oil demand despite US president Donald Trump's recent claims of the US' total control over the narrow waterway. Vessel traffic through the strait of Hormuz stood at 16 vessels total on 11 August, split between 11 inbound and five outbound transits, data from maritime security firm Windward show. There were six total transits — including three transits into the Mideast Gulf and three transits out — that took place on the southern US-supported transit lane, including a Sinokor-controlled very large crude carrier (VLCC) carrying 2mn bl of Iraqi crude destined for Rotterdam, Windward data show. "The USA has total control over the strait of Hormuz. I THINK WE WILL KEEP IT!" Trump posted on social media on 12 August. "Our naval blockade is being called, by everyone, 'A WALL OF STEEL' and there is nothing Iran can do about it." Trump's claim of the US' total control over the strait of Hormuz came the same day that the International Energy Agency (IEA) described an agreement enabling the reopening of the strait of Hormuz as "still elusive" in its latest Oil Market Report (OMR). It also lowered its global oil demand forecast "as the continued closure of the strait of Hormuz disrupts international supply chains and curtails product availability". The latest remarks by Trump come as the US and Iran appear to be moving further away from the potential for diplomatic resolution to reopen the strait of Hormuz, based on recent escalations in rhetoric from both countries. Iran continues to heighten its demands for the reopening of the strait of Hormuz, linking it to the end of the US' blockade, the release of frozen Iranian assets and a region-wide ceasefire that includes Lebanon and Gaza. Meanwhile, Trump in an 11 August post on social media floated the idea that Iran "should be responsible for the damages and death caused to the people of Lebanon, Syria, Yemen, and Gaza!" Wright or wrong? US Energy Secretary Chris Wright said on 11 August that thanks to the US and its Gulf allies the seven-day average for oil leaving the strait of Hormuz is up to almost 9mn b/d, a figure much higher than available information. Data from vessel tracking firm Vortexa places the weekly average for oil leaving the strait of Hormuz between 31 July and 7 August at 3.34mn b/d, with the UAE, Iraq and Kuwait as the leading exporters. It is unclear whether the vessels transited on the US-supported southern lane or the northern Iranian-controlled transit lane. Iran had previously exempted its ally Iraq from paying tolls to transit the strait in June. The IEA confirmed in its latest OMR that "following significant gains in May and June, crude and condensate flow through Hormuz (…) collapsed in July." Wright doubled down on his claims on 12 August stating that "many private businesses undercount the number of ships leaving the strait of Hormuz due to ships moving covertly through the waterway". The US Central Command (Centcom) has repeatedly claimed that US-assisted transits through the strait of Hormuz have been averaging around 20 vessels a day, even on days where vessel tracking and satellite information detected only 10 vessels making it through the waterway. Centcom has declined to respond to multiple requests for additional details on the transits from Argus . By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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