In December, Singapore's import volume of Aviation fuel may reach a multi-year high, with Trade sources and Ship tracking data indicating that India has become the main supplier, as the arbitrage window to Europe remains closed. Singapore, as a major Trade and storage hub for refined fuels in Asia, sees its Aviation fuel import volume closely monitored by the market. According to estimates from LSEG, Kpler, and Trade sources, Singapore's import volume of Aviation fuel in December increased from about 20 million barrels last month to 25.5 million barrels, with most of the supply coming from India and South Korea. Kpler's data shows that these volumes are the highest levels in nearly five years. The increase in supply has caused the price spread between Aviation fuel and 10ppm sulfur content RBOB Gasoline to turn negative since mid-December. Indian refineries typically sell refined products to traders through spot tenders, with these traders sending the volumes to Asia or Northwest Europe based on arbitrage opportunities. India's exports to Asia reached a multi-year high in November, as it did not export any products to Northwest Europe. Its exports to Northwest Europe in December were about 1 million barrels, nearly unchanged from the two-year low in October.