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    Chart of the day: Jet fuel cracks crash in Asia as airlines cut back China routes amid COVID-19 outbreak

    Chart of the day: Jet fuel cracks crash in Asia as airlines cut back China routes amid COVID-19 outbreak

    Chart of the day: Jet fuel cracks crash in Asia as airlines cut back China routes amid COVID-19 outbreak
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    By CNBC-TV18  IST (Published)

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    Jet fuel refining margins may succumb to more downside pressure in Asia as regional airlines suspend multiple flight routes to China in the wake of the coronavirus outbreak, according to S&P Global Platts. Both physical and paper jet fuel cracks against the Platts Dubai crude benchmark tumbled below the psychological support level of $10/b.

    Jet fuel refining margins may succumb to more downside pressure in Asia as regional airlines suspend multiple flight routes to China in the wake of the coronavirus outbreak, according to S&P Global Platts. Both physical and paper jet fuel cracks against the Platts Dubai crude benchmark tumbled below the psychological support level of $10/b.
    Asian jet fuel demand is expected to take a significant hit as government decision-makers and transport authorities across the region put greater emphasis on controlling flights heading to and/or coming from China, in an effort to contain the spread of the virus in their countries.
    In a best-case scenario, S&P Global Platts Analytics expects Asian jet fuel demand to decline over 300,000 b/d year on year in H1 2020, whereas in a worst-case scenario, demand could contract by over 500,000 b/d year on year.
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