At TraditionData, we leverage our leading broking desks’ expertise to provide clients with reliable, independent, and market-driven pricing data for Crude and Refined products, providing clarity in traditionally opaque markets.

“As the energy sector navigates shifting market conditions, TraditionData’s offering keeps clients ahead of these evolving trends, including pricing data for European and Asian Middle distillates swaps. This encompasses Jet fuel, Gasoil, Diesel and Marine Fuel.” Francesca Marrone, Energy & Commodities Product Manager.

On January 1st, the EU and UK introduced two significant environmental policies—ReFuelEU Aviation and the UK SAF Mandate—to drive aviation decarbonization. These regulations mandate that at least 2% of jet fuel supplied at regional airports comes from Sustainable Aviation Fuel (SAF), with progressively stricter quotas and mandates being applied over time.

Rising oil prices are also likely to increase airline ticket costs. Fuel, currently accounting for 30% of airline operating expenses, is their largest cost driver. According to IATA, this share could rise to 45% by 2050 as renewable energy mandates tighten further. Oil prices have climbed 10% since the start of the year, driven by cold weather, resilient demand from China, and new sanctions announced by the Biden administration.

On January 10th, the U.S. imposed strict sanctions on Russia’s oil trade, targeting 160 tankers, key producers, exporters, and traders. These measures are expected to significantly reduce Russia’s petroleum exports, further tightening global oil markets and exacerbating supply chain challenges (Source: Bloomberg).

Although the International Energy Agency had projected a daily supply surplus of nearly 1 million barrels this year, Brent crude rose above $80 per barrel following the sanctions announcement. This shows recovery from a year-end 2024 level below $75.

European Jet Fuel (ARA CIF Jet Fuel Swap) prices have risen since the start of the year, supported by rising oil prices. As of the close of business on Friday, January 17th, N.W.E. Jet Fuel surpassed $790/MT, reflecting a 10% increase since the beginning of the year. However, despite flat price rises, N.W.E Jet CIF Cargo Diff vs ICE Gasoil (the main European Middle distillate benchmark) is trading below the 5 years’ average as shown by the chart below.

This data is sourced directly from Tradition’s Middle Distillate desk as of 17th January 2025.

Pump jack silhouette against a sunset sky with deliberate lens flare and copy space. These jacks can extract between 5 to 40 litres of crude oil and water emulsion at each stroke.
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