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
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, email@example.com, www.dtn.com. (c) 2017
DTN. All rights reserved.