NYH Jet fuel Basis Drops 11.50cts on Weak Demand

HOUSTON, TX (DTN) — Basis for jet fuel in the New York Harbor spot market dipped by 11.50cts to a 19.75cts discount to April ULSD futures on the New York Mercantile Exchange. The basis drop was driven by spot trades confirmed at that level, amid ample supply and weak demand fundamentals.

Energy Information Administration this week reported jet fuel inventory for East Coast PADD 1 increased by 100,000 bbl to 9.5 million bbl in the week ending February 20 and were below 10.5 million bbl in the same week last year