⛏Heating Oil Futures
HEATOIL
▲ PositiveDemandrelevance
Record high US jet fuel demand boosts heating oil (a distillate) as jet fuel is a key component.
Impact on assets 1
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According to data from the US Energy Information Administration, US jet fuel demand reached a record high of about 2.15 million barrels per day in the week ending July 17. The surge was likely driven by fans flocking to airports in New York and New Jersey to watch the World Cup final between Spain and Argentina. The previous record was 2.11 million barrels in December 2017. UBS analyst Giovanni Staunovo noted that the World Cup likely provided a significant boost to demand. On the day of the final, more than 2.9 million passengers passed through airport security checkpoints, according to the Transportation Security Administration.
Record high US jet fuel demand boosts heating oil (a distillate) as jet fuel is a key component.