Mar. 5 at 8:24 PM
Jet fuel prices are surging as supply fears ripple through energy markets after the U.S. strikes on Iran, boosting refining margins and driving gains in U.S. refinery stocks. Benchmark jet fuel in Singapore has jumped to about
$147 per barrel from around
$90 earlier this winter, while New York Harbor prices have climbed to roughly
$150 per barrel, according to market data.
Shipping congestion near the Strait of Hormuz—which handles about 20% of global oil consumption—and refinery disruptions in the Middle East are tightening supply. Some Asian refiners are cutting production due to uncertain crude deliveries, while refinery disruptions in Saudi Arabia and Kuwait are adding to the squeeze.
Jet fuel markets typically react first to supply shocks because inventories are relatively small. At the same time, China and India are reportedly reducing fuel exports, further tightening regional supply.
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