Revival of Winter Travel Turns Jet Fuel Into Oil’s Bright Spot
- Profits from making aviation fuel outshine gasoline, diesel
- Fuel’s refining margins in 2023 are above five-year averages
Travelers at Beijing Capital International Airport.
Source: Bloomberg
This article is for subscribers only.
Soaring demand for travel this winter is boosting refiners’ margins for making jet fuel in Asia, providing a bright spot for the oil market even as the outlook for other transport fuels weakens.
The post-pandemic recovery of air travel is gaining pace in China and India, while the US is expecting to see record travel demand during the holiday season. The boom in travel also coincides with increased demand for kerosene-type fuels, including jet fuel, in the winter.