* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, June 14, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    The Media and Entertainment Deal Machine Is Revving Up – WSJ

    The Media and Entertainment Deal Machine Is Revving Up – WSJ

    Op-Ed: Data Storage and Protection in Today’s Media & Entertainment Industry – Sports Video Group

    How Data Storage and Protection Are Transforming the Media & Entertainment Industry

    The Analyst Verdict: PENN Entertainment In The Eyes Of 7 Experts – Nasdaq

    7 Experts Reveal the Ultimate Verdict on PENN Entertainment

    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    Leading Proxy Advisory Firm Glass Lewis Recommends Shareholders Vote “FOR” Both of PENN Entertainment’s Director Nominees on the WHITE Proxy Card – Business Wire

    Glass Lewis Urges Shareholders to Support All PENN Entertainment Director Nominees on the WHITE Proxy Card

    Cisco Partners with Monumental Sports & Entertainment to Power New D.C. Arena – Cisco Newsroom

    Cisco Teams Up with Monumental Sports & Entertainment to Revolutionize the New D.C. Arena Experience

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    UTC To Host Quantum Technology Workshop June 23-25 – Chattanoogan.com: Breaking News

    Join the Quantum Technology Workshop This June 23-25!

    Rimac Technology Powers the Bugatti Tourbillon with Cutting-Edge Battery and Powertrain Tech – Rimac Newsroom

    Rimac Technology Drives the Bugatti Tourbillon with Revolutionary Battery and Powertrain Innovation

    “Co-creation” boosts commercial technology for dual-use defense applications – Breaking Defense

    “Co-creation” boosts commercial technology for dual-use defense applications – Breaking Defense

    MSI Viking and Mahr Host Technology Day – WSPA 7NEWS

    Step Inside the Thrilling World of MSI Viking and Mahr Technology Day!

    6.12pm is the new 8pm – Go Technology – cgastrategy.com

    6.12pm is the new 8pm – Go Technology – cgastrategy.com

    Russian Scientists Develop Sub-Ångström Technology for Next-Gen Quantum Processors – The Quantum Insider

    Russian Scientists Pioneer Sub-Ångström Technology to Revolutionize Next-Gen Quantum Processors

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    The Media and Entertainment Deal Machine Is Revving Up – WSJ

    The Media and Entertainment Deal Machine Is Revving Up – WSJ

    Op-Ed: Data Storage and Protection in Today’s Media & Entertainment Industry – Sports Video Group

    How Data Storage and Protection Are Transforming the Media & Entertainment Industry

    The Analyst Verdict: PENN Entertainment In The Eyes Of 7 Experts – Nasdaq

    7 Experts Reveal the Ultimate Verdict on PENN Entertainment

    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    3 Arts Entertainment Expands Into News With Acquisition of OManagement (Exclusive) – The Hollywood Reporter

    Leading Proxy Advisory Firm Glass Lewis Recommends Shareholders Vote “FOR” Both of PENN Entertainment’s Director Nominees on the WHITE Proxy Card – Business Wire

    Glass Lewis Urges Shareholders to Support All PENN Entertainment Director Nominees on the WHITE Proxy Card

    Cisco Partners with Monumental Sports & Entertainment to Power New D.C. Arena – Cisco Newsroom

    Cisco Teams Up with Monumental Sports & Entertainment to Revolutionize the New D.C. Arena Experience

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    UTC To Host Quantum Technology Workshop June 23-25 – Chattanoogan.com: Breaking News

    Join the Quantum Technology Workshop This June 23-25!

    Rimac Technology Powers the Bugatti Tourbillon with Cutting-Edge Battery and Powertrain Tech – Rimac Newsroom

    Rimac Technology Drives the Bugatti Tourbillon with Revolutionary Battery and Powertrain Innovation

    “Co-creation” boosts commercial technology for dual-use defense applications – Breaking Defense

    “Co-creation” boosts commercial technology for dual-use defense applications – Breaking Defense

    MSI Viking and Mahr Host Technology Day – WSPA 7NEWS

    Step Inside the Thrilling World of MSI Viking and Mahr Technology Day!

    6.12pm is the new 8pm – Go Technology – cgastrategy.com

    6.12pm is the new 8pm – Go Technology – cgastrategy.com

    Russian Scientists Develop Sub-Ångström Technology for Next-Gen Quantum Processors – The Quantum Insider

    Russian Scientists Pioneer Sub-Ångström Technology to Revolutionize Next-Gen Quantum Processors

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

American Jet Fuel Finally Sees Covid Rebound

June 25, 2024
in News
American Jet Fuel Finally Sees Covid Rebound
Share on FacebookShare on Twitter

 Last week, U.S. refiners produced 1.9 million barrels per day of jet fuel, good for 8% Y/Y growth and the highest weekly total since January 2020.
U.S. jet fuel demand is already setting new records, with the four-week average jet fuel demand of 1.75 million bpd over the last week the highest for this time of the year since 2019.
According to Geneva-based International Air Transport Association (IATA), the vast majority of metrics point to a strong rebound in global passenger air travel.

Last week, crude oil futures finished the week higher on indications of stronger U.S. demand and a rising perception of risk from a wider Middle East conflict that could endanger oil flows from the region. Attacks by Houthi rebels continued on the Red Sea while drones from Ukraine struck four oil refineries and other military targets in Russia. Overall EIA data suggests a tightening U.S. oil market, “over the near term, we think China’s oil demand growth disappointing market expectations is the key downside risk to consider,” Commonwealth Bank of Australia analyst Vivek Dhar said. 

Another corner of oil markets continues to shine: the aviation industry. Last week, U.S. refiners produced 1.9 million barrels per day (bpd) of jet fuel, good for 8% Y/Y growth and the highest weekly total since January 2020, the latest Energy Information Administration (EIA) weekly data has revealed. Airlines for America (A4A) has forecast that U.S. airlines will carry 271 million passengers across the globe this summer, a 6.3% increase from last summer and a new record that surpasses the previous one of 255 million customers set in summer 2023. According to A4A–the industry trade organization for leading U.S. airlines–U.S. passenger carriers will offer more than 26,000 scheduled flights per day in a bid to accommodate this heightened demand–up nearly 1,400 from last summer. Meanwhile, motorist group AAA has predicted that a record 5.74 million people will fly to their destinations around the July 4 holiday.

Related: U.S. Remains The World’s Most Attractive Renewables Market

U.S. jet fuel demand is already setting new records, with the four-week average jet fuel demand of 1.75 million bpd over the last week the highest for this time of the year since 2019, according to U.S. Energy Information Administration data. Thankfully, U.S. refiners are up to the task, with Matias Togni, founder at energy research firm Galpon Shipping & Trading, telling Reuters that higher refinery output will match the anticipated surge in demand over the holidays. Refiners have added over 2 million barrels of jet fuel to stockpiles in the current year, bringing inventories to 41.95 million barrels by June 14. That marks a 2% increase compared to last year and in-line with the past five years’ seasonal average. According to AAA, domestic airfares around the July 4 holiday are 2% lower than last year, even as the flight tracker Airportia showed total U.S. flights are up 1% from last year. Airportia tracked 30,264 U.S. flights on Thursday last week, a 7.2% Y/Y increase.

According to the EIA, jet fuel is the fourth-most-used petroleum product in the United States. In 2022, jet fuel consumption averaged 1.56 million b/d (65 million gallons per day), accounting for about 8% of total petroleum consumption.

Global Aviation Rebound

The aviation industry rebound is not just happening in the United States. According to Geneva-based International Air Transport Association (IATA), the vast majority of metrics point to a strong rebound in global passenger air travel. Last year,  global revenue passenger kilometers or RPK rose 36.9% Y/Y with full-year traffic hitting 94.1% of pre-pandemic (2019) levels. Virtually all international passenger markets posted double-digit traffic growth with Asia-Pacific airlines posting a world-leading 126.1% increase.

This trend is expected to continue in the current year and over the long-term. In its latest forecast, IATA sees RPKs growth clocking in at 11.6% year on year. The long-term 20-year growth trend is expected to see passenger demand grow 3.8% annually for the 2023-2043 period. Net profits are expected to reach $30.5 billion in 2024 (3.1% net profit margin), an improvement on 2023 net profits at $27.4 billion (3.0% net profit margin). This also marks an improvement on the $25.7 billion (2.7% net profit margin) forecast for 2024 profits that IATA released in December 2023.

In contrast, cargo revenues are expected to fall to $120 billion in 2024 from $138 billion in 2023. Both figures are sharply lower after a record $210 billion posted in 2021, but above 2019 revenues, which were $101 billion. Despite strength on the demand side, cargo yields are expected to fall 17.5% in 2024 while remaining slightly above 2019 levels. IATA has pointed out that in general, air cargo is currently going through a period of correction following an exceptional year in 2021. Thus, key metrics including yields, capacity growth, the belly-dedicated freighter split are all moving from the extraordinary mid-pandemic situation towards a continuation of pre-pandemic trends and levels.

By Alex Kimani for Oilprice.com

More Top Reads From Oilprice.com:

U.S. to Set New Oil Production Record, But 2025 Looks BleakPipeline Giant Enbridge Partners With First Nations for Wind Project in CanadaHouthi Attacks Elevate Insurance Rates for Commercial Vessels

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : OilPrice – https://oilprice.com/Energy/Energy-General/American-Jet-Fuel-Finally-Sees-Covid-Rebound.html

Tags: AmericanFinallynews
Previous Post

The Looming Decline of Advanced Economies

Next Post

Is This The Beginning Of A Reconciliation Between The U.S. And Saudi Arabia?

The economic risks of Israel’s Iran attack – Axios

The economic risks of Israel’s Iran attack – Axios

June 14, 2025
The Media and Entertainment Deal Machine Is Revving Up – WSJ

The Media and Entertainment Deal Machine Is Revving Up – WSJ

June 14, 2025
Kenvue mulls sale of some skin health and beauty brands, sources say – Reuters

Kenvue Explores Selling Select Skin Health and Beauty Brands to Refocus Growth

June 14, 2025
Trump’s aggressive moves on immigration protests put Democrats in a political bind – CNN

Trump’s Bold Immigration Crackdown Puts Democrats in a Tough Spot

June 14, 2025
UTC To Host Quantum Technology Workshop June 23-25 – Chattanoogan.com: Breaking News

Join the Quantum Technology Workshop This June 23-25!

June 13, 2025
How madagascar’s lizards became the island’s last hope for reforestation – ScienceDaily

How Madagascar’s Lizards Became the Island’s Unexpected Heroes of Reforestation

June 13, 2025
This is the science behind protecting Minnesota’s native orchids – Detroit Lakes Tribune

The Science Behind Protecting Minnesota’s Rare Native Orchids

June 13, 2025
IBM plans to build first-of-its-kind quantum computer by 2029 after ‘solving key bottleneck’ – Live Science

IBM plans to build first-of-its-kind quantum computer by 2029 after ‘solving key bottleneck’ – Live Science

June 13, 2025
Aging: Healthy habits could offset stroke, dementia, depression risk – Medical News Today

Aging Gracefully: How Healthy Habits Can Reduce Your Risk of Stroke, Dementia, and Depression

June 13, 2025
With the 2026 World Cup one year away, the USMNT can’t seem to win a game – CNN

With the 2026 World Cup Just a Year Away, USMNT Struggles to Secure a Win

June 13, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (684)
  • Economy (700)
  • Entertainment (21,602)
  • General (15,369)
  • Health (9,741)
  • Lifestyle (703)
  • News (22,149)
  • People (700)
  • Politics (706)
  • Science (15,916)
  • Sports (21,200)
  • Technology (15,686)
  • World (682)

Recent News

The economic risks of Israel’s Iran attack – Axios

The economic risks of Israel’s Iran attack – Axios

June 14, 2025
The Media and Entertainment Deal Machine Is Revving Up – WSJ

The Media and Entertainment Deal Machine Is Revving Up – WSJ

June 14, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version