US jet fuel consumption gains cause drop in inventories

18 July 2012 16:54  [Source: ICIS news]

HOUSTON (ICIS)--US jet fuel consumption for the week ended 13 July increased, causing a drop in stockpiles, a government agency’s report released on Wednesday showed.

Consumption of jet fuel in the US rose by 139,000 bbl/day to a rate of 1.597m bbl/day, according to the US Energy Information Administration (EIA).

Compared with the cumulative daily average for the same time period last year, jet fuel consumption for the week ended 13 July is 0.3% lower. One week prior, that number was at 0.4%.

Gradual increases in jet fuel consumption during the busier summer travel season have helped to boost the daily average in recent weeks.

Accordingly, jet fuel inventories dropped for the week, falling by 70,000 bbl to 38.2m bbl. In the previous week, inventories totalled 38.9m bbl, the EIA said.          

For the week ended 13 July, US jet fuel production declined by 106,000 bbl/day to a rate of 1.578m bbl/day. The US Gulf, east coast and midwest regions all posted production rate losses for that week.

By: Anna Matherne

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