US weekly jet fuel stocks riseon lower consumption

25 July 2012 18:12  [Source: ICIS news]

HOUSTON (ICIS)--US jet fuel consumption for the week ended 20 July fell, leading to higher inventories, a government agency’s report released on Wednesday showed.

Inventories of jet fuel in the US gained 1.3m bbl to reach 39.5m bbl, according to the US Energy Information Administration (EIA).

Lower consumption and production of the product contributed to the higher stockpiles.

Jet fuel consumption fell by 333,000 bbl/day to a rate of 1.264m bbl/day for the week ended 20 July. This is 1.1% lower than the cumulative daily average for the same time period one year prior. One week prior, that number was 0.3% lower, the EIA said.

As the summer travel season nears its end, jet fuel consumption is expected to decline.

For the week ended 20 July, US jet fuel production declined by 81,000 bbl/day to a rate of 1.497m bbl/day. All regions in the US posted losses for that week except the east coast, which held steady at a production rate of 48,000 bbl/day.

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By: Anna Matherne

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