U.S. Jet Fuel Demand Has Fully Recovered To Pre-Covid Levels

According to commodity analysts at Standard Chartered, oil markets are going through a period of major dislocations wherein oil price movements are largely unrelated to changes in fundamentals, with market behavior over the past week suggesting this dislocation is likely to continue. In normal circumstances, the flow of news over the past week would have been broadly bullish for oil markets: China stimulus developments were positive for China-sensitive markets (but not for oil) while the Middle East has become significantly more complex and...