US jet fuel inventories drop on higher consumption

08 August 2012 17:56  [Source: ICIS news]

HOUSTON (ICIS)--US jet fuel stockpiles fell for the week ended 3 August, a government agency’s report showed on Wednesday.

Jet fuel inventories dropped by 30,000 bbl to 40.3 bbl, according to the US Energy Information Administration (EIA).

Stockpiles decreased on a rise in consumption of US jet fuel. Consumption gained 183,000 bbl/day to reach 1.685m bbl/day.

Compared with the cumulative daily average for the same time period one year prior, jet fuel consumption is 0.9% lower, the EIA said. Last week, that number was 1.1% lower than the year prior.

The summer travel season has caused increased levels of jet fuel consumption. It is expected to decline as the season nears its end.

US production of jet fuel had slight gains for the week ended 3 August, moving just 6,000 bbl/day higher to 1.685m bbl/day. In the previous week, jet fuel production was at 1.686m bbl/day.

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By: Anna Matherne

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