while supply takes longer to recuperate. Demand for jet fuel is unlikely to return to past highs, Jeff Currie, head of global commodities research at Goldman, said in a Friday media briefing. The long-term damage to business-travel demand will keep demand below pre-virus levels until late 2022, Currie added.
Even as traders focus on the risks associated with rebooting economies, Bank of America forecasts the next stage in recovery will bring more uncertainty. The firm wrote Friday that the US isThe third phase will feel "like a recession," the bank said, as a wave of bankruptcies and additional job cuts present new economic hurdles. as investors shrugged off a gloomy jobs report and focused on hopes for economic reopening.as 20.5 million nonfarm payrolls were lost.
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