LA Jet Fuel Basis Rises 15cts After Brief Lull


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Los Angeles jet fuel basis firmed on Friday (1/23), 
rebounding from the flat levels of the prior day, though values remained well 
below the multi-year highs from earlier this month amid muted demand conditions.
Los Angeles prompt jet fuel was at a 15cts premium to March NYMEX futures on 
Friday (1/23) afternoon, reflecting buying interest late in the week. The same 
upside applied when compared with Thursday (1/22), when basis differences were 
flat.

   Despite the late week uptick, basis levels have softened considerably from 
the early-January rally that pushed Los Angeles jet fuel to multi-year highs. 
Market participants said the pullback reflects seasonally weaker consumption, 
even as underlying supply conditions remain tight.
Jet fuel inventories on the West Coast were unchanged at 11.2 million bbl in 
the reference week and stood 1 million bbl below last year.

   Imports into PADD 5 fell by 77,000 bpd to 102,000 bpd in the week ending 
January 16, traders noted, helping to keep regional balances constrained 
despite subdued demand.

    




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