Europe jet fuel price recovering as flights resume after volcanic ash ban
The Europe-wide flight ban resulting from volcanic ash clouds has cost the jet fuel market 500,000 tonnes-worth of demand this month, with logistical congestion expected to remain until the end of the week.
Jet fuel pick-up is now five days behind amidst the congestion caused by the European flight ban, which began on Thursday lunchtime, and was only lifted across all regions late on Tuesday evening.
"We've lost 500,000 tonnes of demand for the month, and prices were hit, but the market is now starting to pick up again," said a Switzerland-based trader.
The premium range on Thursday last week for prompt physical barge deals was $47–48/tonne FOB ARA (free on board, Amsterdam, Rotterdam Antwerp)
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