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Weak jet demand will continue to limit refinery runs
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Refiners squeezed between gasoline and jet

Rebounding gasoline demand is outpacing that of the rest of the barrel—particularly jet—and causing headaches for refiners

The return to normality in the US has led to a spike in sales for fuels such as gasoline and diesel. But the US is an outlier, and this uneven pattern is distorting the global oil products demand recovery trend. US gasoline demand is recovering faster and touching earlier-than-normal peaks this summer, over and above the traditional seasonal uptick in sales. Fear of contracting Covid-19 makes families choose personal travel options wherever possible, both for work and leisure. US gasoline prices have reached levels unseen in over five years. And the market could strengthen further with the onset of the hurricane season, which can lead to supply disruptions. Further gains in pump prices of



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