January 02, 2025 16:21 GMT
JET FUEL: US Jet Fuel Stocks Rose 474k b/d in Week to Dec. 27: EIA
JET FUEL
EIA data showed US jet fuel stocks built by 474k b/d to 41.181m bbl in the seven days to Dec. 27, a 1.2% rise week-on-week.
- Stocks remain well above the five-year average level of 36.864m bbl and outside of the five-year high-low range.
- PADD 1 stocks were down 0.8m bbl, or 7.7%, to 9.536m bbl, the lowest since April 26.
- In PADD 3, the USGC refining hub, stocks rose by 13.1% to 12.477m bbl. Stocks are now at their highest since Nov. 29.
- On the USWC (PADD 5), stocks were down 0.5% to 11.203m bbl. Stocks have been drawing since hitting a near three-month-high on Dec. 13
- Four-week average jet demand rose 6.1% to 1.742m b/d. Meanwhile, weekly demand was down 12.1% to 1.598m b/d.
- When looking at the average of 2018-2023 and excluding the pandemic year of 2020, four-week average demand in 2024 is higher by 117k b/d.
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