Midwest Weekly: Jet Fuel Leads Price Leap Across Board


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Midwest spot fuel prices surged across the board 
during the week ended July 10, driven higher by a rally in aviation fuel which 
reached its strongest levels since November.

   Group 3 jet fuel led the PADD 2 region's upward momentum by rocketing 
42.75cts to a weekly average of $3.3346 gallon, according to pricing data 
monitored by DTN. That substantial weekly increase pushed the product up 
$1.1062 from its corresponding year-ago average, representing a 47% jump over 
the previous year.

   Group 3 jet fuel was talked at a discount of just 2.5cts gallon to August 
NYMEX ultra-low sulfur diesel (ULSD) on July 9. Its basis reached the strongest 
level since Nov. 17, 2025, when the differential was at a 2.0cts discount.

   Group 3 ULSD posted the second largest regional advance, climbing 32.66cts 
to finish at a weekly average of $3.1368 gallon. On the year, it was 83.37cts 
higher.

   Chicago ULSD recorded another significant gain by climbing 20.46cts on the 
week to finish at a weekly average of $3.0158 gallon.

   Chicago jet fuel also posted solid gains by rising 16.86cts to a weekly 
average of $2.8998 gallon, which is 55.12cts above the year-ago level.

   The rise in diesel and jet fuel values came as NYMEX ULSD for August 
delivery jumped nearly 12% on the week. The market was boosted by supply 
concerns amid renewed U.S.-Iran clashes in the Middle East.

   The gains came despite distillate fuel oil inventories in the PADD 2 region 
rising by 500,000 bbl during the week ended July 3 to 28.3 million bbl. That 
build placed regional distillate inventories at 3.7 million bbl higher than the 
24.6 million bbl logged during the corresponding week last year.

   On the gasoline front, Chicago CBOB regular edged up 11.59cts to a weekly 
average of $2.8613 gallon, leaving it 70.99cts higher than last year.

   PADD 2 gasoline inventories built by 400,000 bbl on the week to 44.3 million 
bbl, according to the EIA. On the year, Midwest gasoline stocks were down by 
1.8 million bbl from the 46.1 million bbl level seen during the corresponding 
week last year.




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