Jet fuel demand outlook sours after fleeting market optimism – ZAWYA

Jet fuel demand outlook sours after fleeting market optimism – ZAWYA

Jet fuel demand outlook sours after fleeting market optimism In Europe, traders were hopeful that the summer vacation season would increase demand for jet fuel    A pipe transporting jet fuel offloaded from barges in seen at Kinder Morgan's Westridge Terminal on Burrard Inlet in Burnaby, British Columbia, Canada November 18, 2016. NEW YORK/SINGAPORE/LONDON - For a faint moment, energy traders had an inkling that demand for jet fuel, the worst-hit product in fuel markets due to the coronavirus pandemic, might stage a bit of a rebound.The number of flights increased in the United States in early July, making some traders optimistic. That spurred a bevy of shipments of jet fuel to the U.S. West Coast from locales in Asia.But with a resurgence in coronavirus cases, passenger air traffic has pulled back. Commercial aviation was easily the hardest-hit of the major transport sectors when coronavirus hit, given the close proximity of passengers in an air-conditioned space where viruses can spread. International flights remain down more than 80% from year-ago levels, Rystad Energy said.The number of flights increased in the United States in early July, making some traders optimistic. That spurred a bevy of shipments of jet fuel to the U.S.