Bloomberg (gated) reported on Monday that:
- The number of travelers expected to fly this Memorial Day weekend may be the highest in nearly 20 years, according to the American Automobile Association.
- a 4.8% jump from last year and a 9% from 2019.
- Broader oil demand also is expected to pick up in the coming weeks as the Memorial Day weekend kicks off the peak US driving season.
Which all augers well for oil demand.
There is an ungated piece referring to the Bloomberg item here. Worth a read.
Oil price update:
