KUALA LUMPUR (Sept 9): Jet fuel prices will struggle to gain ground as oil price upside moderates and refiners continue to reduce output to match a weakened outlook for consumption on Delta variant impacts, but markets will remain fundamentally balanced, said Fitch Solutions Country Risk and Industry Research.
In its outlook for jet fuel prices report today, Fitch Solutions said it anticipates Brent prices to trade mostly sideways at the current levels with limited upside risk.
The research house revised its global average for jet fuel lower to US$75.0/bbl for 2021 from US$77.7/bbl last quarter.
It said lower oil prices in 2022 will see jet fuel prices decline to US$73.5/bbl with expectations remaining subdued for a rapid rebound in air travel and a core view for recovery to take place over the next several years.Read more
