This snippet from ANZ on oil demand in China, some better news:
- signs of strength in China’s jet fuel market are likely to boost sentiment.
- China weekly flights have surged 13% above pre-COVID levels in the week ending 20 August.
- International travel is picking up, with bookings for overseas group tours during the National Day holiday in October more than tripled from a month ago. This comes amid increasing tightness in aviation fuel.
Worries over Chinese demand have been a key headwind for oil. China demand is looking to be on the up now though.
