Los Angeles Jet Fuel Basis Strengthens 7cts on Active Trad
7/14 4:42 PM
Los Angeles Jet Fuel Basis Strengthens 7cts on Active Trade
Kristina Davis
DTN Refined Fuels Market Reporter
MIAMI, FL (DTN) -- Los Angeles jet fuel basis strengthened Tuesday (7/14),
recovering from recent weakness, as market participants monitored tightening
spot values amid mixed regional supply fundamentals.
Los Angeles jet fuel traded at a 28cts discount to August NYMEX ULSD futures,
up 7cts from Monday's (7/13) last pegged level of a 35cts discount, according
to West Coast market participants.
The rebound comes as West Coast jet fuel inventories remain below year-ago
levels. U.S. Energy Information Administration data for the week ended July 10
showed jet fuel inventories in PADD 5 climbed by 100,000 bbl to 11.1 million
bbl. Inventories were 100,000 bbl below the level reported during the same
period last year.
Jet fuel imports into PADD 5 fell by 47,000 bpd to zero during the reporting
week and were unchanged from the same week a year earlier.
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