Chicago ULSD, Group 3 Jet Fuel Weaken on Mixed Stocks


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Chicago ultra-low sulfur diesel (ULSD) and Group 3 jet 
fuel extended their discounts on Wednesday (6/10) against NYMEX ULSD for July 
as regional inventories showed mixed adjustments alongside muted import 
activity.

   Market participants reported that both spot differentials fell further into 
negative territory despite a slight dip in regional jet fuel stockpiles.

   Group 3 jet fuel was talked at 80cts to NYMEX July ULSD, extending its 
discount by 5cts from the previous session. Meanwhile, Chicago ULSD was heard 
at 22.50cts to the July contract, widening its discount by 6.5cts.

   Distillate fuel oil inventories in PADD 2 rose by 300,000 bbl during the 
week ended June 5 to 25.3 million bbl, according to the U.S. Energy Information 
Administration. This build placed regional distillate inventories 200,000 bbl 
higher than the 25.1 million bbl logged during the same week last year.

   Distillate fuel oil imports averaged 5,000 bpd during the week ended June 5, 
down 11,000 bpd from the prior week and 2,000 bpd lower than the prior year.

   Regional jet fuel inventories bucked the broader distillate build, falling 
by 200,000 bbl to 7.4 million bbl, though they stayed 800,000 bbl above 
year-ago levels. PADD 2 jet fuel imports remained completely flat at zero bpd, 
matching both the prior week and the year-ago marks.




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