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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
JET FUEL
Global seaborne jet/kero loadings are down nearly 15% m/m in May (days 1-25), the lowest since March 2022 according to Vortexa vessel tracking.
- Lower refinery supplies from the Middle East and East Asia (partly due to maintenance) have kept jet/kero regrade across key refining hubs positive. It may see refiners maximising jet/kero production over diesel.
- European jet fuel imports have slowed by almost 30% m-o-m in part due to inflationary pressures, although part of this could be compensated by the spike in imports seen in April.
- Memorial Day travel in the US showed strong air travel figures, higher than 2019 levels based on TSA figures.
- China saw an air travel blip after its Labour Day holiday boost early in the month – but is since making a steady recovery.
source: Vortexa
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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