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. 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. In Europe, traders were hopeful that the summer vacation season would increase demand for jet fuel.

Source: International New York Times August 02, 2020 05:03 UTC