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Crack Spreads Widen on Revenge Buying

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Crude oil prices are moving increasingly out of sync with products as global refiners struggle to meet so-called “revenge demand” for transport fuels. The term is being used to describe the huge appetite for all forms of leisure travel being seen after the pandemic.

Jet Fuel, Oil Products, Oil Trade
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Jet demand is still not back to pre-pandemic levels as international air travel struggles to recover.
Fri, Sep 29, 2023
Turkey said crude exports via the Iraq-Turkey pipeline will resume this week, potentially bringing up to 500,000 b/d back to the market,
Mon, Oct 2, 2023
Oil prices held their ground amid choppy trading as markets reacted to the push and pull of economic and geopolitical forces.
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