Midwest Jet Fuels See Larger Discounts as Stocks Climb


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- The basis for jet fuel in the Midwest weakened on 
Wednesday (6/3) as the latest U.S. Energy Information Administration (EIA) 
showed a surge in regional inventories.

   The basis for Group 3 jet fuel was heard at a discount of 95cts gallon to 
July ULSD on NYMEX, widening from the 75cts level seen late on Tuesday (6/2).

   In Chicago, the jet fuel basis expanded to a discount of 90cts gallon 
against the NYMEX benchmark, compared to the prior day's 65cts.

   Jet fuel differentials in the PADD 2 region have turned volatile in recent 
days as traders adjusted to diverging supply dynamics.

   The latest swing came after the EIA reported oil inventories for the week 
ended May 29, showed jet fuel inventories at 6.8 million bbl ,  up 800,000 from 
the prior week and 500,000 bbl higher from a year ago.




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