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Packed Planes Are Eroding Jet Fuel Demand in Bearish Oil Signal

From bnnbloomberg.ca

Flying is back — but US jet fuel demand isn’t. More Americans are flying than before the pandemic, based on the number of passengers going through government security checkpoints at US airports so far this year. But jet fuel demand is still about 11% lower than the same period in 2019, according to Energy Information Administration data. The culprit: less international travel and more fuel-efficient planes that are often packed with more passengers. That echoes what’s happening in road travel, where efficiency gains have stalled gasoline usage even as US drivers log more miles. While the trends are helping limit the ... (full story)

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  • Category: Fundamental Analysis