Results

The Fuels Markets closed higher Monday largely on supply concerns. However, intriguing demand news was found in the travel sector. The TSA reported the US moved over 2MM air passengers for the first time since March 2020 on Friday. This was despite American Airlines cancelling hundreds of flights because of staffing shortages. While reservation agents can be added quickly, adding pilots cannot. AAA continues to warn about rental car shortages because of a lack of computer chips for new cars. Fuel supply inventories are concerning. However, the Bulls’ fuel demand optimism may need to be throttled by the reality of outside forces.