Free Trial

US Jet Fuel Demand Sails Towards Pre-Pandemic Levels: BNEF

OIL PRODUCTS

US jet fuel demand is leading among refined products as summer gets underway, according to BNEF.

  • EIA data showed that US jet fuel demand climbed to 1.75m b/d last week, the second highest figure since the pandemic in 2020, when jet fuel demand collapsed.
  • This puts demand just 4% below 2019 levels, BNEF added.
  • The number of US air passengers also surpassed pre-pandemic levels in 2023, but improved fuel efficiency in aircraft means that jet fuel consumption is still lagging.
  • A record 71 million Americans are expected to travel over the July 4 holiday, although most by car. However, if realised, this is likely to boost oil and fuel prices.

Source: Bloomberg

To read the full story

Close

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.