LA Jet Fuel Basis Rises 10cts to $1 Premium


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- The basis for prompt Los Angeles jet fuel strengthened by 
10cts on Thursday (4/16), trading at a $1 premium above May NYMEX ULSD futures, 
as demand for the product remained firm amid tightening regional supply.
The increase reinforced the higher trend seen of late in Los Angeles jet fuel. 
Aside from Thursday's 10cts boost, the basis rose 32cts on Tuesday.

   Market participants cited a pickup in buying interest and constrained supply 
availability as key drivers behind the back-to-back gains.
Support for jet fuel values has also been tied to ongoing refinery capacity 
reductions in California. The recent shutdown of Phillips 66's 139,000 bpd Los 
Angeles refinery has already removed significant production from the region, 
while Valero's 145,000 bpd Benicia refinery is scheduled to cease operations 
later in April, further tightening supply expectations along the West Coast.




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