The high flat price of jet in Europe is discouraging oil companies from paying to store the fuel as values are set to fall further,steepening the contango in the market,traders said Monday."The big companies could buy,but even large companies are not sure about spending a lot of capital on storing jet," a trader said.The European jet market is in contango from now into December,according to Platts data.When a market dips into contango,values can be supported once the level of the contango exceeds the cost of storage,traders said.
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