Asian refining margins for jet fuel dropped for a second straight session on Wednesday to their lowest levels in more than eight months, as crude prices firmed and demand for the distillate fuel remained weak.
Refining margins for jet fuel, which also determine the profitability of closely-related heating kerosene, plunged to $13.19 a barrel over Dubai crude during Asian trading hours, their lowest since June last year. They were at $13.45 a barrel on Tuesday.
The price for crude oil, a refinery’s most important and costly feedstock, on Wednesday, pushed up by ongoing supply cuts from producer cartel OPEC and U.S. sanctions against Iran and Venezuela.
