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Pacific Snapshot: Australia's Huge Cushion Inflates Regional Stocks

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A steady flow of jet fuel cargoes late last year gave Australia a huge cushion to tide its airports through the busy summer season in the southern hemisphere. Australian jet tanks held 43% more supplies than a year earlier, offsetting lower inventories in South Korea and Japan. A 10% climb from December pushed Australian stocks to 3.7 million bbl in January. South Korean refiners had to rebuild inventories after a steep drop in December to meet export commitments.

Topics:
Jet Fuel, Oil Inventories, Oil Trade
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