Reported 6 months ago
The Memorial Day weekend air-travel boom in the US, highlighted by a surge in jet fuel demand, is reshaping the summer market for refined oil products. More travelers are opting to fly rather than drive, leading to an increase in jet fuel consumption which is outpacing gasoline demand. The growing demand for jet fuel is expected to continue as passenger volumes rise and long-distance flights become more popular due to the easing of Covid-related restrictions, offering potential relief to oil markets and spurring a summer rally.
Source: YAHOO