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Kuwait sells jet fuel at a 2012-high premium

Published May 24, 2012 Updated May 24, 2012 12:46pm
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By Shoaib Ur Rehman
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SINGAPORE: Kuwait Petroleum Corp. (KPC) has sold a jet fuel cargo for loading in June at a premium of $2.55-2.60 a barrel above Middle East quotes, the highest level for 2012, traders said on Thursday.

Demand from Europe ahead of the summer holiday season and within the Middle East was supporting prices, they said. A fall in underlying crude oil prices was also helping to stoke demand, they added.

KPC last sold 60,000 tonnes of jet fuel for loading over May 20-21 at a premium of $1.90-$2 a barrel above Middle East quotes.

Copyright Reuters, 2012

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