BRIEF: ECB's Panetta-Time To Start Thinking Of NGEU Successor

MNI China Daily Summary: Wednesday, Aug 21

MNI: PBOC Net Drains CNY111.2 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1307 Weds; +2.41% Y/Y

CHINA PBOC CONDUCTS CNY258 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1307 WEDS VS 7.1325

US MBA: REFIS -15% SA; PURCH INDEX -5% SA THRU AUG 16 WK

MNI: US MBA: MARKET COMPOSITE -10.1% SA THRU AUG 16 WK

MNI: UK JUL PSNCR GBP19.23 BN

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Thin US Jet Fuel Exports Could Add to Surplus: Argus

JET FUEL
Energy BulletsHomepagemarkets-real-timeBulletCommoditiesAT&T Market NewsBank of America Market News

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.
135 words

To read the full story

Close

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.

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.