Business
Not leaving on a jet plane: Oil rebound hinges on return of international flights – Sydney Morning Herald
Jet fuel consumption remains the hardest hit section of the global oil market as passengers avoid air travel as a result of the pandemic and government travel restrictions.
But an early resumption of long-haul flights is looking less likely than a few months ago, given the resurgence of coronavirus cases in many parts of the world.
So an upturn in jet consumption and with it distillate margins and crude oil prices depends on one or more of three factors: Early deployment of an effective COVID-19 vaccine; alternative methods of infection control (for example, rapid testing or improved contact tracing and isolation); or lifting air travel restrictions with or withou…
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