Asia and Middle Eastern Jet Daily Market Analysis / Physical crack spread near 3-month high / Pertamina seeks 200,000 barrels of jet A-1 fuel for July 23-25 delivery / Sentiment in the Asian jet fuel/kerosene market remained buoyant amid escalating US-Iran / through the waterway “as long as hostile actions of the US continue,” semi-official news / the front-month August-September FOB Singapore jet fuel/kerosene swaps time spread — an / brokers pegged the M1/M2 swap spread at plus $4.51/b. While some sources have voiced / concerns that disrupted traffic through the Strait of Hormuz could prompt governments to / clamp down harder on exports, others were of the view that strong refining margins would / won’t be low, but supply will be enough,” the source said. The FOB Singapore jet / fuel/kerosene cargo crack spread against front-month cash Dubai, which measures the / July 17, up $2.35/b day over day and $18.04/b week over week. The physical crack spread / Jakarta (SKH) over July 21-23, according to some market participants. Meanwhile, Taiwan’s / a premium of about low- to mid-$5s/b to the whole-month August average of Mean of / Asia & Middle East Jet Kero Daily Rationale & Exclusions / Jet Kero FOB Spore Cargo <PJABF00> assessment rationale: The FOB Singapore Jet / window was assessed at Mean of Singapore Jet fuel/kerosene assessment plus $2.50/b, based / on an offer for a cargo loading over Aug. 4-8 at MOPS plus $2.55/b, after normalizing for / deemed pricing. The middle and back loading windows were assessed at MOPS Jet / fuel/kerosene assessment plus $2.63/b and plus $2.47/b, respectively, reflecting the / movements in the front and middle loading windows. Jet Kero FOB Arab Gulf Cargo / <PJAAA00> assessment rationale: The FOB Arab Gulf Jet Kero cargo assessment was derived / as a freight netback from the FOB Singapore Jet Kero cargo assessment using the following / input: FOB Singapore Jet Kero cargo assessment minus the cost of transporting a 55,000-mt / data was excluded from the July 20 Singapore Jet fuel/kerosene Market on Close assessment / FOB Fujairah Jet Kero Rationale & Exclusions / recent cargo trades heard in the Middle East. The MOPAG jet fuel/kerosene strip was / $138.22/b. Exclusions: No market data was excluded from the July 20 Fujairah jet