Jet fuel prices hit 2-year lows

The price of jet kerosene is continuing to move sharply lower in line with weaker crude, amid mounting concerns about the impact of the coronavirus on global economic growth. A tonne of jet kerosene for barge delivery to Rotterdam Feb 25 was assessed at US$501.75 per tonne, according to energy data provider ICIS – a reduction of $29.25 over one week. At the start of the year, the same delivery of jet kerosene would have been priced at around $660 per tonne. “European jet kerosene spot market continues to bear the brunt of coronavirus outbreak as flight cancellations are not only seeing reduced consumption rates but also inducing length in the market,” notes ICIS. Similar downward pressure is being seen in US markets. <br/>