The World Cup finals week drove U.S. jet fuel demand to a record high, reaching 2.15 million barrels per day according to EIA data.

(1) Data released on Wednesday by the U.S. Energy Information Administration (EIA) shows that for the week ending July 17, U.S. jet fuel supply (an indicator used to measure demand) reached approximately 2.15 million barrels per day, setting a new historical record. The previous record was 2.11 million barrels per day in December 2017. (2) UBS oil analyst Giovanni Staunovo pointed out that this surge was most likely driven by the World Cup; this World Cup is the first to be held in North America in more than 30 years, with a record-high number of fans in attendance, and a large influx of spectators arriving in New York and New Jersey to watch the Spain vs. Argentina final. (3) Analysis shows that during the group stage, more than half of the matches were sold out, while most of the remaining matches were only a few hundred seats short of full capacity, further proving the strong boost that fan travel brought to jet fuel demand.