Idle Chatter Waiting For Weekly Jobs Reports, Gasoline Demand, And Natural Gas Fill Rate Data -- September 24, 2015

This is the kind of stuff that is simply background noise in the world energy; it's reported day-in and day-out; and simply changes with the tide. But I find it fascinating.

Platts is reporting, that, for the first time in six weeks, jet fuel imports fell to zero on the West Coast. Apparently stronger US West Coast supplies as well as Asian refiners finding alternative export destinations (Europe) accounted for the fact there were no jet fuel imports on the West Coast last week.

It was noted that there are questions how long Europe can keep importing jet fuel; the storage tanks in Europe are almost filled to capacity (where have we heard that before?), especially in Amsterdam-Rotterdam-Antwerp hub. Some traders have resorted to story jet fuel stocks in offshore tankers.

It was also noted that jet fuel availability had increased because of Middle Eastern refineries (previously reported on the blog that Saudi Arabia has two new large refineries).

And this is what I find most fascinating. Much of the speculation is simply that, speculation. Much of the information is kept secret and information is obtained from tank-spotters who watch the global movement of oil and refined products. For example, this paragraph in Platts:

The Iver Experience, heard to be carrying jet fuel, according to market sources, was seen heading to Los Angeles, according to cFlow, Platts trade flow software, and was set to arrive September 29.

If one is so inclined, one can track the Iver Experience here. I am not so inclined, but I find all of this fascinating. Herman Melville would have had a blast.