Prefer to watch a video about jet fuel demand? Find Goldman Sachs’ latest forecast here Jet fuel prices hit a 13-month high last week as oil prices rose, making airlines’ already difficult life even more difficult. Despite still depressed demand for air transport, jet fuel follows the price curve of crude oil as costlier oil for refining results in costlier end products, including jet fuel. Last week was a special case, however. The Arctic cold wave that bore down on parts of the U.S. unused to such low temperatures caused massive disruption in oil production and refining due to wellhead freezing and power outages that affected refinery operations. With airlines already battered by the pandemic and the travel restrictions it led to, this is just one more challenge to deal with while they are still in a vulnerable state. According to analysts, passengers could start flying again as early […]