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AMERICAS OIL: US Jet Fuel Stocks Fall 1.172m bbl in Week Jan. 31: EIA

AMERICAS OIL
USEnergy BulletsNorth AmericaBulletCommodities

EIA data showed US jet fuel stocks drew by 1.172m bbl to 43.348m bbl in the seven days to Jan. 31, a 2.7% fall week-on-week.

  • Stocks remain well above the five-year average level of 40.018m bbl but have fallen to within the five-year high-low range for the first time since Oct. 15.
  • PADD 1 stocks were down 1.1%, or 114k bbl, to 10.504m bbl.
  • In PADD 3, the USGC refining hub, stocks fell by 4.5% to 12.283m bbl.  Stocks remain at their lowest since Dec. 27.
  • On the USWC (PADD 5), stocks were down 6.1% to 11.065m bbl. PADD 5 inventories have been easing back after reaching a possible all-time high on Jan. 17. West Coast stocks are now at their lowest level since Dec. 6.
  • Four-week average jet demand rose 4.7% to 1.572m b/d. Meanwhile, weekly demand was up 15.6% to 1.738m b/d.
  • When looking at the average of 2019-2024 and excluding the pandemic year of 2020, four-week average demand in 2024 is higher by 130k b/d.
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EIA data showed US jet fuel stocks drew by 1.172m bbl to 43.348m bbl in the seven days to Jan. 31, a 2.7% fall week-on-week.

  • Stocks remain well above the five-year average level of 40.018m bbl but have fallen to within the five-year high-low range for the first time since Oct. 15.
  • PADD 1 stocks were down 1.1%, or 114k bbl, to 10.504m bbl.
  • In PADD 3, the USGC refining hub, stocks fell by 4.5% to 12.283m bbl.  Stocks remain at their lowest since Dec. 27.
  • On the USWC (PADD 5), stocks were down 6.1% to 11.065m bbl. PADD 5 inventories have been easing back after reaching a possible all-time high on Jan. 17. West Coast stocks are now at their lowest level since Dec. 6.
  • Four-week average jet demand rose 4.7% to 1.572m b/d. Meanwhile, weekly demand was up 15.6% to 1.738m b/d.
  • When looking at the average of 2019-2024 and excluding the pandemic year of 2020, four-week average demand in 2024 is higher by 130k b/d.