Home Forex Oil – China weekly flights are 13% above pre-COVID ranges

Oil – China weekly flights are 13% above pre-COVID ranges

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Oil – China weekly flights are 13% above pre-COVID ranges

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This snippet from ANZ on oil demand in China, some higher information:

  • indicators of energy in China’s jet gasoline market are prone to increase sentiment.
  • China weekly flights have surged 13% above pre-COVID ranges within the week ending 20 August.
  • Worldwide journey is selecting up, with bookings for abroad group excursions throughout the Nationwide Day vacation in October greater than tripled from a month in the past. This comes amid rising tightness in aviation gasoline.

Worries over Chinese language demand have been a key headwind for oil. China demand is seeking to be on the up now although.

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