US jet fuel inventories fall on higher consumption rates

07 November 2012 17:04  [Source: ICIS news]

HOUSTON (ICIS)--An increase in US jet fuel consumption led to lower inventory rates for the week ended 2 November, a government agency’s report said on Wednesday.

Jet fuel consumption was at 1.523m bbl/day, a gain of 233,000 bbl/day from the previous week, which was at 1.290m bbl/day, according to the US Energy Information Administration (EIA).

Year on year, the cumulative daily average of jet fuel consumption was 0.7% lower. Last week, that average was 0.8%, the EIA said.

For the week ended 2 November, jet fuel inventories were at 43.4m bbl, 1.1m bbl lower than the previous week.

Furthermore, jet fuel production fell by 39,000 bbl/day to a rate of 1.445m bbl/day for the week ended 2 November.

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By: Anna Matherne

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