Los Angeles Jet Fuel Basis Rises on Trading, Low Supply


   
Maria Eugenia Garcia
DTN Refined Fuels Editor

   HOUSTON, TX (DTN) -- Cash jet fuel basis strengthened in active Los Angeles 
trading Thursday (7/23) amid a 5% rally in front-month NYMEX ULSD futures, 
triggered by the Middle East conflict-driven supply tightness.

   Prompt Los Angeles jet fuel basis was heard traded at a 16cts discount to 
August NYMEX ULSD futures, narrowing 12.75cts from the previous session.

   Limited jet fuel availability on the U.S. West Coast region also underpinned 
basis strength.

   The U.S. Energy Information Administration reported on Wednesday (7/22), 
that U.S West Coast jet fuel stocks inventories fell by 500,000 bbl to 11.6 
million bbl in the week ended July 17. Stocks were 800,000 bbl below the volume 
reported during the same week a year earlier.




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