SINGAPORE/LONDON/NEW YORK (Reuters) – Global jet fuel markets are coming back to life, resuscitated by a rebound in air cargo demand, gradually recovering passenger traffic and hopes that COVID-19 vaccines will spur more international flights in 2021.
The pandemic brought air travel to a virtual halt this year, and analysts say it may take years before global appetite for jet fuel returns to pre-pandemic levels.
But refining profits for the fuel surged to multi-month highs in all key trading hubs in December on hopes of higher demand in 2021, with U.S. and European margins underpinned by a recovery in air cargo volumes and Asian margins also by a rebound in domestic travel and heating consumption. Read more…..
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