BoeingBoy
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- Nov 9, 2003
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It's that time again....
For the week ending April 15:
U.S. crude oil refinery inputs averaged nearly 15.4 million barrels per day during the week ending April 15, up 137,000 barrels per day from the previous week's average. Refineries operated at 91.8 percent of their operable capacity last week.
U.S. crude oil imports averaged 9.7 million barrels per day last week, down 145,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged over 10.0 million barrels per day, which is 58,000 barrels per day less than averaged over the comparable four weeks last year.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) dropped by 1.8 million barrels from the previous week, the first weekly drop after nine weeks of consecutive builds. At 318.9 million barrels, U.S. crude oil inventories are at the upper end of the average range for this time of year.
Total product supplied over the last four-week period has averaged 20.3 million barrels per day, or 0.7 percent more than averaged over the same period last year.
Kerosene-type jet fuel demand is up 4.3 percent over the last four weeks compared to the same four-week period last year.
Weekly Petroleum Report Highlights
Tracking with the price of crude, jet fuel prices peaked on 4/4/05 with spot prices of:
NY Harbor $1.7200
Gulf Coast $1.6963
Los Angeles $1.9172
Jet fuel prices declined from those peaks, with NY Harbor delivery reaching a weekly low on 4/13 @ $1.5171, Gulf Coast on 4/12 @ $1.5166, and Los Angeles declining throughout the week (possibly because it had increased the most in the preceeding rally).
The weeks closing spot prices - 4/15/05 - for jet fuel were:
NY Harbor $1.5373
Gulf Coast $1.5360
Los Angeles $1.7550
As usual, to put these in context here are the spot crude prices on 4/15/05 and today (@ approx 11:00AM Eastern Time):
WTI-Cushing $50.61 $52.50
Brent $49.52 $51.22
Based on current crude prices, one would expect jet fuel to be up from last Friday's close by about 5 cents.
Finally, both crude & gasoline stockpiles decreased in the week ending 4/15/05. That could portend higher crude prices going forward this week, which would translate to higher jet fuel prices.
Jim
For the week ending April 15:
U.S. crude oil refinery inputs averaged nearly 15.4 million barrels per day during the week ending April 15, up 137,000 barrels per day from the previous week's average. Refineries operated at 91.8 percent of their operable capacity last week.
U.S. crude oil imports averaged 9.7 million barrels per day last week, down 145,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged over 10.0 million barrels per day, which is 58,000 barrels per day less than averaged over the comparable four weeks last year.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) dropped by 1.8 million barrels from the previous week, the first weekly drop after nine weeks of consecutive builds. At 318.9 million barrels, U.S. crude oil inventories are at the upper end of the average range for this time of year.
Total product supplied over the last four-week period has averaged 20.3 million barrels per day, or 0.7 percent more than averaged over the same period last year.
Kerosene-type jet fuel demand is up 4.3 percent over the last four weeks compared to the same four-week period last year.
Weekly Petroleum Report Highlights
Tracking with the price of crude, jet fuel prices peaked on 4/4/05 with spot prices of:
NY Harbor $1.7200
Gulf Coast $1.6963
Los Angeles $1.9172
Jet fuel prices declined from those peaks, with NY Harbor delivery reaching a weekly low on 4/13 @ $1.5171, Gulf Coast on 4/12 @ $1.5166, and Los Angeles declining throughout the week (possibly because it had increased the most in the preceeding rally).
The weeks closing spot prices - 4/15/05 - for jet fuel were:
NY Harbor $1.5373
Gulf Coast $1.5360
Los Angeles $1.7550
As usual, to put these in context here are the spot crude prices on 4/15/05 and today (@ approx 11:00AM Eastern Time):
WTI-Cushing $50.61 $52.50
Brent $49.52 $51.22
Based on current crude prices, one would expect jet fuel to be up from last Friday's close by about 5 cents.
Finally, both crude & gasoline stockpiles decreased in the week ending 4/15/05. That could portend higher crude prices going forward this week, which would translate to higher jet fuel prices.
Jim
