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JET FUEL: US Spot Prices Close Friday Trading Mixed
9/22 5:29 PM
JET FUEL: US Spot Prices Close Friday Trading Mixed BURLINGTON, Vt. (DTN) -- Cash market jet fuel prices in major U.S. spot trading hubs presented mixed results Friday afternoon, tracking a little changed ULSD oil futures trading session on the New York Mercantile Exchange. Trading was limited to the New York Harbor and Texas Gulf Coast, where jet fuel prices took a bath on continued crumbling of prompt cash differentials. October NYMEX ULSD futures bounced in and out of positive territory before settling up 0.1cts at $1.8163 gallon, and for the week climbed 1.75cts. November futures edged 0.12cts higher to $1.8086 gallon at the formal session close to post a 1.78cts week-over-week advance. New York Harbor jet fuel sold for Buckeye Pipeline shipment at an 11.0cts October futures discount that pared spot price by 2.15cts to $1.7063 gallon on the 225pts plunge in basis Gulf Coast 54-grade tumbled 225pts in basis trading for 56th cycle Colonial Pipeline transport 13.25cts below the November ULSD futures print that sent spot price tumbling 2.13cts under its Thursday DTN closing market posting to $1.6761 gallon. Group 3 Q-grade quality jet fuel fell 250pts in cash differential and 2.4cts in notional spot price to $1.8663 gallon, rated at a 5.0cts MERC premium for prompt Magellan Pipeline delivered supply. Chicago 51-grade jet fuel remained assessed 7.5cts over spot month ULSD futures for third cycle September delivery into Citgo East Chicago storage that nudged spot price up a fraction to $1.8913 gallon. Angeles September LAX pipeline jet fuel eased 50pts in basis and 0.4cts in spot price to $1.7813 gallon, talked either side of a 3.5cts futures discount for prompt delivery. San Francisco jet fuel was priced at MERC level, and Pacific Northwest jet fuel at a 2.0cts futures premium. In other news, the number of active oil rigs in the United States fell by five this week to 744, oil services firm, Baker Hughes, Inc. reported this afternoon. The count has declined three consecutive weeks, and at 744 is down 12 so far in the third quarter. G.Bud deGorgue, 1.802.524.1784, bud.degorgue@dtn.com, www.dtn.com. (c) 2017 DTN. All rights reserved.