- Oil futures remain steady despite ongoing worries about a resurgence on Covid-19 that is leading to tighter restrictions
- Although fears about petroleum product demand loss due to the coronavirus are serious, many analysts continue to forecast that crude supply will be tight the rest of the year (Reuters)
- The potential threat to the oil demand recovery from the delta variant contributed to the previous Monday’s 7.5% sell-off
- Two airlines are taking extra fuel on some flights and considering adding stops to other routes to pick up fuel (Bloomberg)
- Both American Airlines and Southwest Airlines are contemplating the measures as supply chain delays to small and mid-sized airports across the country cause a jet fuel shortage
- The delays are expected to continue through mid-August, American told its pilots on Monday
- AEGIS notes that overall jet fuel stocks are ample in the Lower 48, but trucking shortages are causing delivery delays