06 September 2012 16:45 [Source: ICIS news]
HOUSTON (ICIS)--Stockpiles of US jet fuel fell for the week ended 31 August as consumption rose, a government agency report showed on Thursday.
Jet fuel inventories moved 200,000 bbl lower to 43.0m bbl, according to the US Energy Information Administration (EIA).
Higher consumption rates contributed to the drawdown in stockpiles. For the week ended 31 August, jet fuel consumption was at 1.464m bbl/day, up from the previous week’s rate of 1.360m bbl/day.
Year on year, the cumulative daily average of jet fuel consumption was 1.5% lower, the EIA said. One week prior, that number was at 1.4%.
Additionally, production of US jet fuel fell to 1.459m bbl/day for the week ended 31 August. The prior week’s production rate was 1.551m bbl/day.
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