AMERICAS OIL PRODUCTS
Total implied jet fuel demand across North America is seen rising 0.2% in the week to Feb. 17 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 0.2% to 1.28m b/d.
- US daily commercial passenger numbers Feb. 3-9 rose 0.3% 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 0.6% in the week to Feb. 17 to 144,246.
- Furthermore, domestic schedules are seen up strongly by 7.6% in the week to Feb. 24 at 155,200.
- International schedules from the US are on track to fall 0.6% in the week to Feb. 17 at 15,703.
- For the following week to Feb. 24, international flights are expected to rise by 6.4% on the week to 16,708.
- The NY Jet fuel crack has started the year below 2024 and 2023 seasonal levels, likely pressured by higher US stock levels. However, it is holding above levels at the end of 2024.
170 words