London, 7 September (Argus) — European jet fuel prices fell on the back of slim losses on the gasoil futures complex while barge and cargo differentials were also slightly weaker.
Liquidity on the barge market soared on Tuesday with almost 15,000t traded in the afternoon session. Seven barges were traded at a premium of $47/t over the Ice September gasoil contract for mid-September loading dates. BP was a dominant seller selling six barges while Koch and Shell were active on the buy side.
The cargo market also saw a trade with a 30,000t cargo sold by Hetco to Morgan Stanley at a premium of $46/t over the Ice October gasoil contract on cif Rotterdam basis for 17-21 September arrival dates.
Traders are continuing to place jet fuel in floating storage on the back of a wide contango on the jet forward curve.
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