Chicago Jet Fuel Basis Weakens as Midwest Refiners Restart


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- The basis for jet fuel in the Chicago market softened 
Tuesday (5/26) against benchmark NYMEX futures as Midwest refiners completed 
scheduled springtime maintenance and restored baseline output.

   Chicago jet fuel's differential to NYMEX ULSD for June delivery stood at 
minus 40cts gallon. That was 25cts more than its 15cts discount at last week's 
close, prior to Monday's Memorial Day holiday.

   On Group 3, the discount for jet fuel was 60cts gallon versus Friday's 55cts.

   The return to normal processing capacities across major Illinois refining 
nodes triggered an immediate supply flush into local pipeline networks.

   The influx of fresh local supply effectively neutralized a steep product 
deficit that had gripped the midcontinent transport sector for nearly two 
months. The product expansion unwound a severe regional bottleneck that had 
pushed spot prices above $5 gallon throughout late March and April when 
maintenance coincided with Middle East supply panics.

    




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