LA Jet Fuel Basis Falls 5cts on Improving Supply


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Los Angeles jet fuel basis weakened Wednesday (6/10), 
extending losses into mid-June, as market participants weighed improving 
regional inventory levels against lower import volumes.

   Los Angeles jet fuel traded at an 8cts discount to July NYMEX ULSD futures, 
adding 5cts from Tuesday's (6/9) last pegged level of a 3cts discount, 
according to West Coast market participants.

   The move lower comes as supply concerns continue to ease across the West 
Coast. U.S. Energy Information Administration data for the week ended June 5 
showed jet fuel inventories in the region climbed by 200,000 bbl to 11 million 
bbl. Inventories were 200,000 bbl below the level reported during the same 
period last year.

   Jet fuel imports fell by 124,000 bpd to zero during the reporting week and 
were unchanged from the same week a year earlier.




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