Reuters first with surprise China jet fuel price rise

Reuters was 30 minutes ahead of Dow Jones and 73 minutes ahead of Bloomberg with a rise in China`s jet fuel prices on May 19, a 13 percent increase and the first price hike this year, news vital for the airlines industry and an oil refining sector with increasingly tight margins. In a market beset by rumours over fuel price adjustments, Reuters sought quick confirmation of the 460 yuan/tonne rise with sources before alerting the market with the news, which was later confirmed officially by top refining firm Sinopec. The move also suggested the authorities were growing more inclined toward a possible rise in gasoline and diesel prices, which could nip a nascent demand recovery in the bud, a bearish development for world markets