Atlantic Coast jet fuel differentials reached their highest levels since September as sources said refinery turnarounds in the region led to rising jet prices.
Jet barrels on Buckeye Pipeline in New York Harbor rose 1.50 cents to the NYMEX March ULSD futures contract minus 3.50 cents/gal. That marked the highest level for that differential since it reached front-month NYMEX minus 3 cents/gal on September 15, 2016.
Offline barrels at Colonial's Linden, New Jersey, terminal were heard trading at a 1.25 cent/gal discount to Buckeye barrels.
Sources said scheduled maintenance at regional refineries, most notably Phillips 66's 238,000 b/d Bayway refinery, also in New Jersey, led to the rise in differentials.
Phillips 66 is performing maintenance on a crude distillation tower, a reformer and a vacuum tower, sources said.
