Pacific Snapshot: Stockdraw Sets Stage for Winter Squeeze

摘要

Jet fuel stocks across the Pacific Basin fell by 1.6 million barrels to 25.1 million at end-November, setting the stage for the late-winter market rally. Japan, South Korea and Australia all had significant declines in tank levels, while stocks on the US West Coast edged higher. Stocks of burning kerosene fell to 22.2 million bbl with the onset of colder weather and were 7.5% ahead of the year-earlier mark. The cold snap in late February across North Asia prompted a spike in regional jet fuel prices, drawing in cargoes from the Middle East and elsewhere (p1).