Grounded Flights Are Sending U.S. Jet Fuel Prices Sliding Again
- New York, Houston benchmarks fall to lowest since summer
- Travel slump means few are thirsty for Gulf Coast-made fuel
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The new wave of lockdowns around the world is sending U.S. jet fuel prices slumping and exports slowing to a trickle all over again.
It’s not as bad as the crash last April, but the headwinds the aviation market still faces before vaccines bring life to normal are increasingly showing. Benchmark jet fuel prices in New York and Houston hit six-month lows, and demand in both markets plunged to a seasonal seven-year low last week.