US jet fuel consumption drops 16.3%, inventories up 3.7%

01 November 2012 16:43  [Source: ICIS news]

HOUSTON (ICIS)--A drop in consumption of US jet fuel led to higher inventories for the week ended 26 October, a government agency’s report said on Wednesday.

Jet fuel consumption was at 1.290m bbl/day, a drop of 251,000 bbl/day from the previous week, which was at 1.541m bbl/day, according to the US Energy Information Administration (EIA).

Year on year, the cumulative daily average of jet fuel consumption was 0.8% lower, the EIA said. Last week, that average was 0.5%.

For the week ended 26 October, jet fuel inventories were at 44.5m bbl, 1.6m bbl higher than the previous week.

Furthermore, jet fuel production gained 22,000 bbl/day to 1.484m bbl/day for the week ended 26 October.

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By: Anna Matherne

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