- Nov 9, 2003
- 16,512
- 5,865
U.S. crude oil imports averaged over 9.5 million barrels per day last week, down 932,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged over 10.2 million barrels per day, a decrease of 214,000 barrels per day from the comparable four weeks last year.
With Hurricane Katrina knocking out a lot of refinery capacity, U.S. crude oil refinery inputs averaged just 14.6 million barrels per day during the week ending September 2, down over 1.6 million barrels per day from the previous week's average.
U.S. commercial crude oil inventories (excluding those in the SPR) fell by 6.4 million barrels from the previous week. At 315.0 million barrels, U.S. crude oil inventories remain well above the upper end of the average range for this time of year.
Total motor gasoline inventories declined by 4.3 million barrels last week, putting them below the bottom end of the average range. Distillate fuel inventories decreased by 0.8 million barrels last week, and are above the upper end of the average range for this time of year.
Total product supplied over the last four-week period has averaged over 21.3 million barrels per day, or 1.5 percent more than averaged over the same period last year. Over the last four weeks, motor gasoline demand has averaged over 9.3 million barrels per day, or 0.1 percent above the same period last year.
Kerosene-type jet fuel demand is down 3.0 percent over the last four weeks compared to the same four-week period last year.
On to the numbers.....
Spot prices for jet fuel.....9/02......8/26......8/19......8/12......8/05.......7/29.......7/22.......7/15.......7/08.......7/01
New York Harbor.........$2.6250 $1.9100 $1.9550 $1.9550 $1.7430 $1.6750 $1.6115 $1.6713 $1.7230 $1.7323
Gulf Coast...................$2.3900 $1.8675 $1.9450 $1.9450 $1.7230 $1.6645 $1.6350 $1.6450 $1.7005 $1.7060
Los Angeles................$2.4187 $2.0000 $2.0975 $2.0975 $2.0050 $1.8250 $1.7000 $1.7100 $1.7700 $1.7900
Spot prices for crude......9/02.....8/26.....8/19.....8/12.....8/05.....7/29.....7/22.....7/15.....7/08.....7/01
WTI Cushing................$66.91 $65.51 $66.71 $66.71 $62.44 $60.71 $57.75 $58.36 $59.71 $59.11
Brent...........................$65.95 $64.21 $67.26 $67.26 $60.73 $59.77 $56.98 $56.98 $59.00 $56.41
Current crude prices:
WTI Cushing...$64.08 (close on 9/9/05 per Bloomberg)
Dated Brent....$66.20 (close on 9/9/05 per Bloomberg)
NYMEX............$64.06 (@19:38 on 9/11/05 per Bloomberg)
Finally, average spot prices of jet fuel by month (by quarter once the quarter is over):
Delivery point....1Q05......2Q05......Jul05.....Aug05.....Sep05*......3Q05*
NY Harbor...... $1.4861 $1.5833 $1.6859 $1.90.24 @2.2550 $1.8403
Gulf Coast..... $1.4400 $1.5649 $1.6647 $1.8744 $2.2171 $1.8143
Los Angeles.. $1.5228 $1.7008 $1.7525 $2.0272 $2.1767 $1.9230
*thru 9/7/05
Finally, a little chart to show the effect Katrina had on spot jet fuel prices - daily spot prices per barrel compared to the daily spot WTI price per barrel, starting on 8/26 (the Friday before Katrina) and ending on 9/2 (the Friday after Katrina.
Jim
View attachment 3273
With Hurricane Katrina knocking out a lot of refinery capacity, U.S. crude oil refinery inputs averaged just 14.6 million barrels per day during the week ending September 2, down over 1.6 million barrels per day from the previous week's average.
U.S. commercial crude oil inventories (excluding those in the SPR) fell by 6.4 million barrels from the previous week. At 315.0 million barrels, U.S. crude oil inventories remain well above the upper end of the average range for this time of year.
Total motor gasoline inventories declined by 4.3 million barrels last week, putting them below the bottom end of the average range. Distillate fuel inventories decreased by 0.8 million barrels last week, and are above the upper end of the average range for this time of year.
Total product supplied over the last four-week period has averaged over 21.3 million barrels per day, or 1.5 percent more than averaged over the same period last year. Over the last four weeks, motor gasoline demand has averaged over 9.3 million barrels per day, or 0.1 percent above the same period last year.
Kerosene-type jet fuel demand is down 3.0 percent over the last four weeks compared to the same four-week period last year.
On to the numbers.....
Spot prices for jet fuel.....9/02......8/26......8/19......8/12......8/05.......7/29.......7/22.......7/15.......7/08.......7/01
New York Harbor.........$2.6250 $1.9100 $1.9550 $1.9550 $1.7430 $1.6750 $1.6115 $1.6713 $1.7230 $1.7323
Gulf Coast...................$2.3900 $1.8675 $1.9450 $1.9450 $1.7230 $1.6645 $1.6350 $1.6450 $1.7005 $1.7060
Los Angeles................$2.4187 $2.0000 $2.0975 $2.0975 $2.0050 $1.8250 $1.7000 $1.7100 $1.7700 $1.7900
Spot prices for crude......9/02.....8/26.....8/19.....8/12.....8/05.....7/29.....7/22.....7/15.....7/08.....7/01
WTI Cushing................$66.91 $65.51 $66.71 $66.71 $62.44 $60.71 $57.75 $58.36 $59.71 $59.11
Brent...........................$65.95 $64.21 $67.26 $67.26 $60.73 $59.77 $56.98 $56.98 $59.00 $56.41
Current crude prices:
WTI Cushing...$64.08 (close on 9/9/05 per Bloomberg)
Dated Brent....$66.20 (close on 9/9/05 per Bloomberg)
NYMEX............$64.06 (@19:38 on 9/11/05 per Bloomberg)
Finally, average spot prices of jet fuel by month (by quarter once the quarter is over):
Delivery point....1Q05......2Q05......Jul05.....Aug05.....Sep05*......3Q05*
NY Harbor...... $1.4861 $1.5833 $1.6859 $1.90.24 @2.2550 $1.8403
Gulf Coast..... $1.4400 $1.5649 $1.6647 $1.8744 $2.2171 $1.8143
Los Angeles.. $1.5228 $1.7008 $1.7525 $2.0272 $2.1767 $1.9230
*thru 9/7/05
Finally, a little chart to show the effect Katrina had on spot jet fuel prices - daily spot prices per barrel compared to the daily spot WTI price per barrel, starting on 8/26 (the Friday before Katrina) and ending on 9/2 (the Friday after Katrina.
Jim
View attachment 3273
