China’s Travel Rebound Risks Super-Charging Jet Fuel Prices

China’s return is thought to be the final missing piece in the global air travel recovery. Domestic travel has led the rebound in Asia’s top aviation market, and now international travel is set to take off after the lifting of a ban on group tours to popular destinations.

While aviation fuel prices are nowhere near the highs of last year, they’ve jumped about 30% this month compared with the start of July, trading above $116 a barrel in Singapore, according to Bloomberg Fair Value data. A big question mark for the outlook on oil and the global economy has been China’s uneven recovery. While overall growth in the nation has been weaker than expected, various data on flight bookings are an encouraging sign.

A full recovery for Chinese international tourism won’t come overnight. After four years of harsh Covid restrictions, those looking to travel are facing high costs amid a weakening yuan, the sluggish economy and difficulty in getting travel documents such as visas.Also, the increase in demand comes as fuel supplies are stretched, leaving markets more vulnerable to diesel and jet fuel price shocks.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China’s Travel Rebound Risks Super-Charging Jet Fuel Prices(Bloomberg) -- After years of pent-up demand for leisure and business travel due to the ravages of Covid-19, millions of Chinese are taking to the skies again as the nation leads an aviation boom across Asia.Most Read from BloombergSpaceX Blast Left Officials in Disbelief Over Environmental DamageTesla Investors to Get $12,000 Each From Musk’s SEC DealFIFA Suspends Spanish Football Chief Over World Cup KissAfter 15 Years, a New Private Jet Is America’s Most PopularPowell Signals Fed Will Raise R
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Europe Gas Heads for Weekly Drop on Hopes Australia Risks EasingEuropean natural gas headed for its first weekly drop this month amid hopes that Australian exporters will soon end labor disputes, easing fears about potential supply disruptions in already volatile market.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Expert panel tells Ottawa to move faster on corporate disclosure of climate risksIn wake of destructive wildfires, flooding and heat across Canada, think tank SFAC finds companies need to beef up data
Source: globeandmail - 🏆 5. / 92 Read more »