24 August 2012 19:00 [Source: ICIS news]
Outright jet kerosene prices were driven to $1,072.50-1,074.50/tonne FOB (free on board) ARA (Amsterdam-Rotterdam-Antwerp) on Friday.
In addition to upward pressure from gasoil, more material was heading to the US rather than the ARA region, higher bids for vessels into ports with depth restrictions, and low water levels on the river Rhine were pushing up price differentials on both the barge and cargo markets, sources said.
Stocks of jet kerosene in the ARA region were at 369,000 tonnes on 23 August, down from 377,000 tonnes the previous week.
There was some market uncertainty over pricing differentials, however, because of a lack of trade with Shell - the only active buyer this week.
A source said with only one player active in the market there was uncertainty in actual differential levels and as a result many bids and offers have been made on a quotes related basis.
Shell has purchased 47,000 tonnes of product since 1 August in the barge market and has been the bidder in all but two of the barge trades conducted during the month.
($1 = €0.80)
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