US jet fuel inventories rise on lower consumption

15 August 2012 17:00  [Source: ICIS news]

HOUSTON (ICIS)--Stockpiles of US jet fuel gained as consumption fell for the week ended 10 August, a government agency’s report showed on Wednesday.

Jet fuel inventories moved 600,000 bbl higher to 40.9m bbl, according to the US Energy Information Administration (EIA).

Lower consumption of jet fuel caused the increase in inventories. For the week ended 10 August, consumption fell by 189,000 bbl/day to 1.496m bbl/day.

Compared with the cumulative daily average for the same time period one year prior, jet fuel consumption is 0.8% lower, the EIA said. Last week, that number was 0.9% lower year on year.

Furthermore, production of jet fuel decreased by 55,000 bbl/day to 1.637m bbl/day for the week ended 3 August. In the previous week, jet fuel production was at 1.692m bbl/day.

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By: Anna Matherne

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