U.S. crude oil inventories may finally be below the five-year average for this time of year, but U.S. jet fuel inventories are still sky-high—a nagging reminder that the pandemic’s impact is a long-lasting one. According to the EIA’s latest inventory data for kerosene-type jet fuel, stocks are continuing to rise—and that’s worrisome for the oil industry because summer air travel typically drains those stocks. For the week ending July 16, there were 44.974 million barrels of kerosene-type jet fuel sitting in U.S. stocks.…
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