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Thin US Jet Fuel Exports Could Add to Surplus: Argus

JET FUEL

US jet fuel stockpiles are already at a 14-year high for August but could build even further if imports continue to lag, Argus said.

  • Waterborne jet fuel loadings from the USGC are headed to be at their lowest since March 2021 at 32.8k b/d in Aug. 1-20.
  • Departures are down 31% on the same period in 2023 and are down by 71% on whole month July.
  • The dip in GC exports could add to US supplies at a time when domestic jet fuel demand may taper as summer travel season nears its end.
  • Passenger screenings at US airports hit an 11-week low last week, according to TSA data.
  • All regions are seeing jet fuel stocks up on the year, apart from US midcontinent. Midcontinent is down due to issues at Exxon’s 252k b/d Joliet refinery.
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