The ARGUS fob Mideast Gulf jet fuel differential assessment
The differential shown is the daily assessed market premium or discount to Mideast Gulf spot assessments for cargoes 200,000 bl and above loading from the Mideast Gulf. The assessment takes into account transactions and relevant market discussions for trade 15-40 days forward from the date of publication.
The Mideast Gulf quotations are netted back daily using Argus spot freight assessments. The jet-kerosine netback is calculated from the Argus fob Singapore jet-kerosine quotation using LR1 freight (55,000t), with an average freight using a two port loading of Bahrain/Jubail to Singapore plus 50pc of the Saudi port charge.
Advantages of the ARGUS fob Mideast Gulf jet fuel differential assessment
The assessment is done based on market feedback from various stakeholders including buyers, sellers, producers and traders about actual trades, bids and offers done.
Users of the ARGUS fob Mideast Gulf jet fuel differential assessment
The assessment is used in jet fuel tenders such as those offered by Indian state-controlled refiner IOC, with major oil trading firms as tender participants. It is also used by other Mideast Gulf jet fuel producers, airlines, and exporters – as well as in internal price transfers, internal benchmarking, mark-to-market pricing and market analysis.