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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
JET FUEL
New York Harbour jet fuel prices are surging on tight supplies due to refinery outages and upcoming refinery maintenance.
- The NY Harbour jet fuel price is up from around 2.8$/gal earlier this year to 5.66$/gal but still below the peak of 7.6$/gal seen in early 2022.
- The New York jet premium over ULSD has risen as high as 2.0$/gal.
- Sever cold weather disruption in December took a significant amount of Gulf Coast refineries offline reducing US refinery utilisation. EIA data yesterday showed US utilisation up from 79.6% at the end of Dec to 86.1% in the week to 20 Jan but still below levels of over 92% seen in early Dec.
- Phillips 66 is expected to start 40 days of work at Linden refinery units from next week.
- East coast stocks of jet fuel have fallen to the lowest seasonal level in data going back to 1990.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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