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Panelists at the IATA Aviation Energy Forum said depleted jet fuel inventories and limited spare refining capacity leave the market vulnerable to renewed price spikes in 2027. S&P Global CERA expects the jet fuel crack to ease sharply in early 2027 but global jet fuel demand to rebound by 1.17 million b/d.
Refiners favoring diesel yields and low distillate buffers keep diesel exposed to supply shocks, such as a Gulf Coast hurricane, which raises transport and freight costs for feed buyers.
spglobal.comMia PeiNov 12, 2026After 105 past bullish macro events, ULSD / Diesel moved a median -0.4% over 5 sessions (45% higher; middle half -3.4% to +1.8%), and +1.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
