Jet Fuel Basis Surges 13cts in NYH, Dips 8cts in US Gulf


   
Maria Eugenia Garcia
DTN Energy Editor

   HOUSTON, TX (DTN) -- Jet fuel basis in the New York Harbor spot market 
strengthened 13cts on Monday (2/2) to a 4cts premium to March ULSD futures on 
the New York Mercantile Exchange (NYMEX) on higher offers driven by supply 
tightness.

   In contrast, basis of jet fuel in the US Gulf Coast market dipped by 8.25cts 
to a 16.25cts discount to front-month NYMEX ULSD futures compared to the 
previous trading session due to ample supplies and weak demand.

   Jet fuel inventories on the East Coast fell by 500,000 bbl to 8.6 million 
bbl in the week ended January 23, and were 2 million bbl lower year-over-year, 
according to most recent Energy Information Administration data. Meanwhile, 
PADD 3 jet fuel stocks jumped 100,000 bbl to 14.4 million bbl during the 
reference week, but were 1.5 million bbl lower compared to the same week of 
last year, EIA reported.




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