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AMERICAS OIL PRODUCTS: US Jet Fuel Stocks Rose 2.1m bbl in Week to Jan. 10: EIA

AMERICAS OIL PRODUCTS
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EIA data showed US jet fuel stocks built by 2.1m b/d to 43.698m bbl in the seven days to Jan. 10, a 5.0 % rise week-on-week.

  • PADD 1 stocks were up 1.169m bbl, or 13.1%, to 10.059m bbl. The disruption to travel last week was likely a factor in building stocks.
  • In PADD 3, the USGC refining hub, stocks rose by 3.0% to 13.498m bbl.  Stocks are now at their highest since Nov. 15.
  • On the USWC (PADD 5), stocks were up 1.8% to 12.061m bbl, a four-month high.
  • Four-week average jet demand rose 6.4% to 1.656m b/d. Meanwhile, weekly demand was down 13.6% to 1.488m b/d.
  • When looking at the average of 2019-2024 and excluding the pandemic year of 2020, four-week average demand in 2024 is within the seasonal high low range, but above the average by 166.8k b/d.
  • Winter storms last week caused widespread flight cancellations. Friday alone saw over 3,200 flight cancellations in the US, according to FlightAware.
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EIA data showed US jet fuel stocks built by 2.1m b/d to 43.698m bbl in the seven days to Jan. 10, a 5.0 % rise week-on-week.

  • PADD 1 stocks were up 1.169m bbl, or 13.1%, to 10.059m bbl. The disruption to travel last week was likely a factor in building stocks.
  • In PADD 3, the USGC refining hub, stocks rose by 3.0% to 13.498m bbl.  Stocks are now at their highest since Nov. 15.
  • On the USWC (PADD 5), stocks were up 1.8% to 12.061m bbl, a four-month high.
  • Four-week average jet demand rose 6.4% to 1.656m b/d. Meanwhile, weekly demand was down 13.6% to 1.488m b/d.
  • When looking at the average of 2019-2024 and excluding the pandemic year of 2020, four-week average demand in 2024 is within the seasonal high low range, but above the average by 166.8k b/d.
  • Winter storms last week caused widespread flight cancellations. Friday alone saw over 3,200 flight cancellations in the US, according to FlightAware.