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Crude up on Supply Worries While Demand Fears Dent Jet

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Crude and products headed in opposite directions amid warnings Opec-plus could be running out of spare production capacity while fears of economic recession continue to threaten fuel demand. US President Joe Biden failed to extract any promises of extra oil production on his tour of the Middle East last week. A Jul. 21 phone call between Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin instead saw both leaders reaffirm their commitment to the Opec-plus alliance. The producer group is next due to meet to discuss output policy Aug. 3.

Jet Fuel, Oil Spot Markets, Crude Oil
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