USGC, NYH Jet Fuel Basis Fall as ULDS Futures Rise


   
Maria Eugenia Garcia
DTN Energy Editor

   HOUSTON, TX (DTN) -- Basis for jet fuel in the US Gulf Coast and New York 
Harbor markets weakened on Monday (2/23), as the March futures on the New York 
Mercantile Exchange (NYMEX) climbed 3.57% on the day on firm buying interest.

   Jet fuel basis at the Houston origin of the Colonial Pipeline in the Gulf 
Coast spot market, fell 7.7cts to be assessed at 24.75cts discount against the 
March NYMEX ULSD futures contract amid bids heard at 25cts and offers at 
22.50cts levels.

   Meanwhile, basis for jet fuel moved on the Buckeye Pipeline in the New York 
Harbor spot market was assessed at a 22.5cts discount over the ULSD futures 
contract for March delivery, down by 9cts from the previous trading session.

   NYH jet fuel basis dropped despite the Energy Information Administration 
reporting last week that inventories in PADD 1 decreased by 400,000 bbl to 8.5 
million bbl during the week ended February 13, compared with 8.9 million bbl 
reported year-over-year. In contrast, jet fuel stocks in PADD 3 climbed by 
100,000 bbl  in the same period to 14 million bbl. This was 700,000 bbl higher 
than the volume reported the prior year.




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