Jet Fuel Prices Rise in Europe

Prices in the European jet fuel market rose sharply, with global air traffic resisting the influence of the omicron variable.

According to Bloomberg, one of the most important measures of the fuel market, which is the difference between diesel, rose last Friday to its highest level since September 2019, long before the epidemic hit the aviation industry on the continent.

Mark Williams, oil and refining products market analyst at Wood Mackenzie in Europe, said: “We are seeing a lack of supply everywhere, and demand was expected to be affected by Omicron, and it did not happen, so the demand for traveling remained in good shape.”

Bloomberg forecasts indicate that globally, jet fuel demand is expected to rise by about 45% from late January through early July, with strong growth in North America and Western Europe in particular.