Fuel demand in the United States has been gradually increasing in recent weeks, clawing back over half of the consumption lost during the first couple of weeks of lockdowns. Gasoline demand has been rising since early April as lockdowns eased and people started driving more. Distillate fuel and jet fuel demand, however, is still struggling–especially jet fuel. Gasoline production has also risen since April lows, but growth has been much slower than the pace of consumption recovery, suggesting that there are still sizeable fuel stocks that refiners need to sell first before ramping up crude processing rates and capacity utilization to pre-crisis levels. Refiners across the U.S. are not rushing to quickly increase processing rates, leaving the market to first draw down the fuel oversupply, Reuters market analyst John Kemp says . According to the latest weekly inventory report of the Energy Information Administration, refinery crude oil inputs and […]