Asia Distillates-Jet cracks drop as aviation sector continues to struggle
Asian refining margins for jet fuel ped for a second straight session, weighed by worries that renewed coronavirus lockdowns in several markets would dampen aviation demand recovery.Refining margins, or cracks, for jet fuel ped to $4.59 per barrel over Dubai crude during Asian trading hours, 15 cents lower from Thursday. Jet cracks have gained 10% this week, but still remain 63% lower than the ten-year seasonal average for this time of the year, Refinitiv Eikon data showed.While pockets of demand have emerged from some domestic routes, a majority of international flights remain grounded due to prolonged border restrictions amid fresh virus waves in many parts of Asia. Business travel is still being avoided as much as possible across sectors.....