Aviation Crisis Could Cause Lasting Damage To Oil Markets

Last Friday, Warren Buffett served a new blow to an already troubled industry, shaking it to the core: The celebrity investor announced that Berkshire Hathaway had sold all its holdings in airlines.  The move sent ripples through the oil industry, as well. The coronavirus pandemic had changed the world, Buffett said. It has also changed the air transport industry--and the changes may be lasting.  As one of the most significant sources of oil demand, air transport is intimately linked to the oil industry. This means any lasting changes…