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AMERICAS OIL PRODUCTS: N. America’s Jet Fuel Demand Rises 6.8% on Week: BNEF

AMERICAS OIL PRODUCTS
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Total implied jet fuel demand across North America is seen rising 6.8% in the week to Feb. 24 to 1.52m b/d. This puts it up around 1.8% year-on-year.

  • For the US alone, jet fuel demand is also up by 7.5% to 1.37m b/d.
  • US daily commercial passenger numbers Feb. 11-17 rose 12.9% week-on-week, according to TSA data. BNEF expects a continued increase in the coming weeks.
  • Domestic US flight schedules across the US are set to rise 7.6% in the week to Feb. 24 to 155,187.
  • Furthermore, domestic schedules are seen falling by 0.4% in the week to March 3 at 154,601.
  • International schedules from the US are on track to rise 6.5% in the week to Feb. 24 at 16,718.
  • For the following week to March 3, international flights are expected to rise by 0.9% on the week to 16,875.
  • The NY Jet fuel crack has ticked up, although remains below levels in 2023 and 2024 on a seasonal basis. However, it is holding above levels at the end of 2024.
Screenshot 2025-02-19 124945
Source: Bloomberg
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Total implied jet fuel demand across North America is seen rising 6.8% in the week to Feb. 24 to 1.52m b/d. This puts it up around 1.8% year-on-year.

  • For the US alone, jet fuel demand is also up by 7.5% to 1.37m b/d.
  • US daily commercial passenger numbers Feb. 11-17 rose 12.9% week-on-week, according to TSA data. BNEF expects a continued increase in the coming weeks.
  • Domestic US flight schedules across the US are set to rise 7.6% in the week to Feb. 24 to 155,187.
  • Furthermore, domestic schedules are seen falling by 0.4% in the week to March 3 at 154,601.
  • International schedules from the US are on track to rise 6.5% in the week to Feb. 24 at 16,718.
  • For the following week to March 3, international flights are expected to rise by 0.9% on the week to 16,875.
  • The NY Jet fuel crack has ticked up, although remains below levels in 2023 and 2024 on a seasonal basis. However, it is holding above levels at the end of 2024.
Screenshot 2025-02-19 124945
Source: Bloomberg