LA Jet Fuel Basis Extends Weakness on Steady Stockpiles


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- The basis for prompt Los Angeles jet fuel weakened 
against NYMEX ULSD futures on Wednesday (5/13) after federal data showed steady 
year-on-year inventories for the product.

   The premium for Los Angeles jet fuel slid from Tuesday's (5/12) 35cts gallon 
to 27cts against June ULSD, registering an 8cts drop on the day.

   It was the latest decline in the premium for Los Angeles jet fuel, which 
stood at a record difference of $1.10 gallon above NYMEX ULSD in late April.

   The price outlook for jet fuel weakened further on Wednesday after inventory 
numbers reported by the U.S. Energy Information Administration (EIA).

   Jet fuel inventories in the U.S. West Coast stood at 10.6 million bbl in the 
week ending May 1, down from 11.0 million bbl the prior week but even with the 
same period last year, according to the EIA data.

   Distillate fuel oil inventories in the same region were unchanged at 10.1 
million bbl during the week profiled but were 1 million bbl lower than the 
volume reported in the same period last year, EIA data showed.




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