亚洲航空燃油/煤油市场价跌至19个月低位

据普氏能源资讯新加坡3月20日消息 新加坡近月航空燃油/煤油合约与迪拜掉期合约之间的价差已跌至19个月低点，这一趋势看来将持续至夏季旅游旺季开始。其中，迪拜掉期合约衡量的是航空燃油/煤油相对于原油的价值。

普氏数据显示，周二亚洲市场收盘时，4月份航空煤油/燃油掉期合约对迪拜掉期合约的缺口被评估为12.55美元/桶，为2017年8月23日评估为12.20美元/桶以来的最低水平。

普氏周二评估新加坡现货航空公司的离岸价为- 39美分/桶，过去两周累计下跌25美分/桶。

尽管市场有时会自我调整，但交易商们表示，各种加剧因素使得复苏迫在眉睫的可能性不大。

一位东北亚炼油商表示:“这是通常的季节性模式。”他补充称，这一轮疲软可能至少会持续到夏季旅游旺季。

一位驻新加坡的交易员指出，中东和印度的货物现在正转向远东港口，致使已经供过于求、无法消化更多产品的亚洲市场将不堪重负。

据航运业消息人士称，至少有15万公吨来自中东和印度的3月装载喷气式飞机将飞往新加坡。

普氏周二评估称，新加坡航空燃油离岸价(FOB)与迪拜实际价差为11.86美元/桶，较上年同期下降2.98美元/桶。

Phillip期货商品分析师Benjamin Lu周三表示:“尽管油价受到欧佩克主导的供应减产的支撑，但由于当前经济增长前景放缓和美国页岩油产量上升，油价面临着严峻的阻力。”

吴慧丹    摘译自    普氏能源资讯

原文如下：

Asia jet fuel/kerosene crack slips to 19-month low; market expects further weakness

The Singapore front-month jet fuel/kerosene crack spread against Dubai swaps -- which measures the relative value of the product to crude oil -- has slumped to a 19-month low, and this trend looks set to continue until the summer travel season kicks off.

At the Asian close Tuesday, the April jet fuel/kerosene swaps crack against Dubai swaps was assessed at $12.55/b, marking the lowest level since August 23, 2017, when it was assessed at $12.20/b, S&P Global Platts data showed.

Platts assessed the FOB Singapore spot jet differential at minus 39 cents/b Tuesday, down 25 cents/b over the last two weeks.

While the market would sometimes rebalance itself, traders said that various exacerbating factors made the odds of an imminent recovery unlikely.

"It is the usual seasonal pattern," a Northeast Asian refiner said, adding that this bout of weakness was likely to persist till at least the summer travel season.

A Singapore-based trader noted that Middle Eastern and Indian cargoes were now swinging to Far East ports, overwhelming an already-oversupplied Asian market that cannot digest any more product.

According to shipping sources, at least 150,000 mt of March-loading jet from the Middle East and India is headed to Singapore.

Platts assessed the FOB Singapore jet fuel/Dubai physical crack spread at plus $11.86/b Tuesday, $2.98/b lower on a year-on-year basis.

"Oil prices, though supported by OPEC-led supply cuts, have faced severe headwinds on slower growth prospects and rising US shale production in the current term," Benjamin Lu, commodities analyst at Phillip Futures said Wednesday.