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Increasing airline activity driving Jet Fuel demand

JET FUEL

Jet fuel demand increasing as global airline activity picking up despite limited flights to/from China due to covid

  • Worldwide flights have risen 8% over the last month to more than 95k according to the 7-day average day from FlightRadar24. Much of the increase comes from a steady increase in Europe where the 7-day average flight numbers are now just 14.5% below 2019 levels compared to 21.1% below last month according to EuroControl data.
  • The European Jet crack has pulled back after reaching a peak of 56.95$/bbl at the start of May. The crack is currently trading at 41.96$/bbl compared to approximately 12.5$/bbl at the start of the year. The increasing demand and reduced supply due to Russia have pushed European Jet Kerosene stock levels down 18.4% since mid-April and are now in the middle of the 5-year range.


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Jet fuel demand increasing as global airline activity picking up despite limited flights to/from China due to covid

  • Worldwide flights have risen 8% over the last month to more than 95k according to the 7-day average day from FlightRadar24. Much of the increase comes from a steady increase in Europe where the 7-day average flight numbers are now just 14.5% below 2019 levels compared to 21.1% below last month according to EuroControl data.
  • The European Jet crack has pulled back after reaching a peak of 56.95$/bbl at the start of May. The crack is currently trading at 41.96$/bbl compared to approximately 12.5$/bbl at the start of the year. The increasing demand and reduced supply due to Russia have pushed European Jet Kerosene stock levels down 18.4% since mid-April and are now in the middle of the 5-year range.