Post by
Sheshe1234 on May 20, 2021 9:00pm
European markets
Oil Demand Is Rebounding Fast In Europe By Tsvetana Paraskova - May 20, 2021, 3:30 PM CDT Traffic on Europes highways and in the biggest cities has been rising in recent weeks as economies reopen, suggesting a rebound in road transportation fuel demand. Traffic on highways in Spain and France, one of the largest car markets in Europe, is now only slightly off the pre-COVID levels from 2019, according to data from highway operators quoted by Bloomberg. Many European countries have been gradually reopening over the past month while advancing vaccination rates prompt more people to travel on the roads. This is bullish news for gasoline and diesel demand, which is expected to be the first to recover to pre-pandemic levels, especially compared to the lagging aviation fuel demand. Traffic in European capitals is also intensifying, with traffic in 15 capitals reaching the busiest this year, according to data from location technology company TomTom NV cited by Bloomberg. Fuel sales in the United Kingdom surged this month to their highest level since the first lockdown in March last year, suggesting that the reopening that began in April is already resulting in higher oil demand and economic growth. With domestic restrictions easing, many European countries are now working to reopen to tourists from abroad in time for the summer vacations. As of Sunday, Italy is allowing tourists on COVID-free flights where passengers are tested before departure and on arrival regardless of whether they have received a vaccine or not. The more important thing is that those travelers, including those from the United States, Canada, and Japan, are not subject to quarantine upon arriving in Italy.
Comment by
pointer on May 20, 2021 9:34pm
This post has been removed in accordance with Community Policy