Los Angeles Jet Fuel Basis Surges 35cts on firm demand


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) --Los Angeles jet fuel basis gained 35cts on Friday (3/20) 
to a 55cts premium over May NYMEX ULSD futures, after a trade was confirmed at 
that level.

   The basis of Los Angeles jet fuel  strengthened despite high inventory 
levels and increasing output reported last week. 

   Jet fuel production in the West Coast (PADD 5) increased to 425,000 bpd in 
the week ended March 13 from 396,000 bpd the prior week, according to Energy 
Information Agency data released this week.  

   In the same region, jet fuel inventories climbed by 500,000 bbl to 11.6 
million bbl on a weekly basis and were up by 1.2 million bbl compared to the 
same week last year. Jet fuel imports increased by 84,000 bpd to 128,000 bpd 
and were higher by 86,000 bpd year-over-year.

   Refinery utilization in PADD 5 declined to 79.8% last week compared to 83.8% 
the previous week, EIA data showed.




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