For the Quarter Ending June 2023

North America

During the second quarter, the overall Jet Kerosene market in the US contracted as compared to the first quarter, which was demand driven. US Jet Kerosene prices were normalizing in the first quarter, including April showing decreasing trend after Russia-Invaded Ukraine. During May, the demand excited to its highest level since December 2019 due to the increasing demand for Oil. Moreover, a sharper-than-expected drop in US gasoline inventories reported by US Energy Information Administration affected the supply chain of Jet Kerosene, resulting in booming prices. The prominent demand for transport fuels boosted the US economy's travel sentiment and influenced the prices to hover around USD 2.238 per gal US Gulf Coast Kerosene during the end of May. However, jet fuel (ATF) rates were cut by 7 percent in June due to softening international oil prices. Volatility in Jet Kerosene prices influenced airline ticket prices due to labor shortages and aircraft delivery delays.

Jet Kerosene Prices, Price, Trend and Forecast: https://www.chemanalyst.com/Pricing-data/jet-kerosene-23

Asia

During the second quarter, India's overall Jet Kerosene market significantly declined compared to the first quarter. A Downtrend of Jet Kerosene prices in India was observed for another quarter of 2023 due to feeble demand from the downstream aviation sector. The global sector has been planning for alternative fuel, influencing the product's demand. However, Indian producers have not faced any difficulties during production, amid sufficient inventories supporting the market demand. Product supplies were stable enough throughout the quarter in the domestic market, influencing the prices to show a downtrend. Furthermore, reducing feedstock crude oil prices and depraved production costs amongst the traders resulted in a feeble price trend. As per the market analysis, the muted demand fundamentals and weak international trading activity has influenced the prices to hover around USD 1017.66 per tonne Jet Kerosene Ex-Mumbai, during the end of May 2023. As per the industry data, India's Manufacturing PMI dropped from 58.7 (May) to 57.7 (June).

Jet Kerosene Prices, Price, Trend and Forecast: https://www.chemanalyst.com/Pricing-data/jet-kerosene-23

Europe

During the second quarter of 2023, Europe's overall Jet Kerosene market significantly dropped compared with the first quarter. As per the data, Production in Industry-Manufacturing in Greece fell by 131 (March) to 124.5 (April). On April 25, 2023, European Lawmakers and member state governments announced boosting the use of "green aviation fuel" to reduce carbon emissions. The French president pledged on June 16 to invest 328 million dollars/year in the development of sustainable fuels, which had hampered the supply chain of Jet Kerosene. This has affected the overall demand for Jet Kerosene amongst traders, as airlines seek to ensure to meet their needs, which has resulted in driving up the prices. In order to boost the consumption of SAFs, the government has also provided tax credits and other subsidies. As per IATA, fuel price in Europe has increased by over 115% in the last 12 months. Moreover, the prices of Jet Kerosene were heavily driven by uncertain feedstock crude oil prices.


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