据路透社新加坡12月11日消息，尽管亚洲航空业蓬勃发展，但由于供应过剩抵消了消费，亚洲航空燃油价格折扣降至9年来12月份最低水平。
此次下滑反映了今年第一季度亚洲航空燃油价格差异的大幅扩大。随后，供应紧张将它们推升至10年来的最高季节性水平。
根据Refinitiv Eikon的数据，周一，在亚洲交易中心新加坡，航空燃油现金差价较JET-SIN-DIF的基准报价低1.06美元，为2009年以来的最低点。
现金差额代表买家愿意为高于或低于价格报告机构每日公布的基准价格的燃油支付的价格。
能源咨询公司Trifecta的主管Sukrit Vijayakar表示：“显然现货市场并不认为喷气纸（合约）的高价格是合理的。”“这就是导致现金利差疲软的原因。”
与此同时，北半球的冬季起步较为温和，也是因为厄尔尼诺天气模式导致的季节异常温和。尤其是在日本，煤油——几乎和喷气燃料一样——被广泛用于取暖。
市场消息人士表示，煤油消耗量低，喷气燃料产量高，正吸引炼油商生产更多喷气燃料，令交易商愿意购买的价格承压。
交易商表示，低现金价格开始拖累炼油厂利润率。
周一亚洲交易时段，喷气燃料的炼油利润（也被称为裂缝）为每桶15.66美元，过去四周下跌19％。
尽管如此，喷气式裂缝仍然相对较高—— 11月15日达到的每桶19.34美元的峰值是近四年来的高点——经季节因素调整后，用于喷射燃料的炼油厂裂缝仍处于2014年以来的最高水平。
Vijayakar说：“炼油商可以从航空需求非常好的事实中获得安慰......喷射裂缝非常高。”
陈菲 摘译自 路透社
原文如下：
Asian jet fuel discounts slip to 9-yr seasonal low
Asian jet fuel price discounts stand at their lowest December levels in nine years as a supply glut offsets consumption even as the region’s aviation sector booms.
The slump is a mirror image of the steep gains Asian aviation fuel price differentials saw in the first quarter of this year. Then, tight supply lifted them to their highest seasonal levels in a decade.
The cash differentials for jet fuel in the Asian trading hub of Singapore were at a discount of $1.06 a barrel below benchmark quotes Cash differentials represent the price buyers are prepared to pay for fuel over or below benchmark values published daily by price reporting agencies.
“Clearly the physical market does not believe that the high prices of jet paper (contracts) are justified,” said Sukrit Vijayakar, director of energy consultancy Trifecta. “That is what is causing the weakness in the cash differentials.”
The weakness also comes as winter in the northern hemisphere has seen a mild start: The outlook is largely for an unusually mild season because of an El Nino weather pattern. That’s especially the case in Japan, where kerosene - almost identical to jet fuel - is commonly used for heating.
The low kerosene consumption and high yields for churning out jet fuel are luring refiners to pump out more of the latter, market sources said, weighing And the low cash prices are starting to weigh Refining margins, also known as cracks, for jet fuel were at $15.66 a barrel during Asian trading hours Despite that, jet cracks remain comparatively high - the peak of $19.34 a barrel “Refiners can take comfort from the fact that aviation demand is really good...Jet cracks are very high,” said Vijayakar.
