US jet fuel stockpiles drop as consumption rises

05 July 2012 18:37  [Source: ICIS news]

HOUSTON (ICIS)--US jet fuel consumption increased for the week ended 29 June, while inventories dropped, according to a government agency’s report released on Thursday.

Consumption of jet fuel in the US increased by 9,000 bbl/day to reach 1.593m bbl/day for the week ended 29 June. For that same week, jet fuel inventories dropped to 37.8m bbl. The prior week had inventories at 38.6m bbl, according to the US Energy Information Administration (EIA).

Compared with the cumulative daily average for the same time period one year prior, jet fuel consumption is 0.6% lower. In the week ended 22 June, that number was 0.8% lower than one year prior.

Increased airline travel during the busier summer season has helped to narrow the gap with the previous year’s levels.

Jet fuel production dropped to 1.557m bbl/day, a decrease of 20,000 bbl/day for the week ended 29 June, the EIA said. The drop was mainly caused by lower production on the east coast and US Gulf coast, which fell by 6,000 bbl/day to 43,000 bbl/day and by 16,000 bbl/day to a rate of 756,000 bbl/day, respectively.        

By: Anna Matherne

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