Platts assessed jet fuel down 75 points to NYMEX December heating oil contract minus 2.75 cents/gal.
NYMEX December heating oil settled at a two-year high of $2.3977/gal, up 1.29 cents. Platts assessed December heating oil futures at 3:15 p.m. EST at $2.3971/gal.
Jet fuel was heard actively trading in the morning around minus 1.75 cents/gal and minus 2 cents/gal before dipping at the end of its deadline day to schedule barrels for the latest shipping cycle on Colonial Pipeline, which runs from Houston to New York Harbor.
No deals were done in the Platts Market on Close assessment process, with the market left bid at minus 3.35 cents/gal and offered at minus 2.25 cents/gal. A non-MOC deal happened at minus 3 cents/gal deal but bids moved up after that, traders said. ConocoPhillips was heard after the market closed to have sold 25,000 barrels at minus 2.50 cents/gal.
Differentials tend to move lower as the NYMEX increases when some hedging and outright acquisitions taper off in the face of higher spot prices.
