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JET FUEL: US Jet Fuel Stocks Rose 1.1% in Week to Jan.3: EIA

JET FUEL
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EIA data showed US jet fuel stocks built by 445k b/d to 41.626m bbl in the seven days to Jan. 3, a 1.1% rise week-on-week and the highest since Dec. 6

  • Stocks remain well above the five-year average level of 37.291m bbl and outside of the five-year high-low range.
  • PADD 1 stocks were down 0.646m bbl, or 6.8%, to 8.890m bbl, the lowest since April 26. PADD 1 stocks have fallen every week bar one since their recent peak Dec. 6
  • In PADD 3, the USGC refining hub, stocks rose by 5.0% to 13.099m bbl.  Stocks are now at their highest since Nov. 15.
  • PADD 3 stocks have risen every week since Dec. 20, having bottomed out at a nine-month low.
  • On the USWC (PADD 5), stocks were up 5.8% to 11.850m bbl, the highest since Sep. 13.
  • Four-week average jet demand rose 8.8% to 1.712m b/d. Meanwhile, weekly demand was up 7.8% to 1.722m b/d.
  • When comparing the same period across 2019-2024 and excluding the pandemic year of 2020, current four-week average demand in is higher by 231k b/d.
  • This week’s demand may be impacted by recent cold weather storms disrupting transportation across the US but will only become clear in next week’s data release.

 

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EIA data showed US jet fuel stocks built by 445k b/d to 41.626m bbl in the seven days to Jan. 3, a 1.1% rise week-on-week and the highest since Dec. 6

  • Stocks remain well above the five-year average level of 37.291m bbl and outside of the five-year high-low range.
  • PADD 1 stocks were down 0.646m bbl, or 6.8%, to 8.890m bbl, the lowest since April 26. PADD 1 stocks have fallen every week bar one since their recent peak Dec. 6
  • In PADD 3, the USGC refining hub, stocks rose by 5.0% to 13.099m bbl.  Stocks are now at their highest since Nov. 15.
  • PADD 3 stocks have risen every week since Dec. 20, having bottomed out at a nine-month low.
  • On the USWC (PADD 5), stocks were up 5.8% to 11.850m bbl, the highest since Sep. 13.
  • Four-week average jet demand rose 8.8% to 1.712m b/d. Meanwhile, weekly demand was up 7.8% to 1.722m b/d.
  • When comparing the same period across 2019-2024 and excluding the pandemic year of 2020, current four-week average demand in is higher by 231k b/d.
  • This week’s demand may be impacted by recent cold weather storms disrupting transportation across the US but will only become clear in next week’s data release.

 

Keep reading...Show less