LA Jet Fuel Basis Slips After Multi-Year High This Week


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) --  Los Angeles jet fuel basis edged up on Friday (1/9), but 
remained well below multi-year price highs reached earlier this week, as 
seasonal demand stayed subdued.

   Los Angeles prompt jet fuel traded this afternoon at 40cts premium to NYMEX 
RBOB futures on Friday (1/9), 5cts higher than the prior trading session, 
following a sharp rally earlier in the week that pushed basis values to 
three-year highs.
On Tuesday (1/6) Los Angeles jet fuel basis traded at a 75cts premium against 
the NYMEX RBOB futures contract for February, the strongest level since 
September 22, 2022, when the basis it traded at 80cts premium to October RBOB 
futures.
Despite the pullback at the end of the week, traders said the Los Angeles jet 
fuel market has remained historically tight. Jet fuel inventories in PADD 5 
slipped by 100,000 bbl to 11.2 million bbl last week and were 700,000 bbl lower 
than the same week last year. 

    




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