After an optimistic start to the summer that sent jet fuel demand soaring, analysts now caution that global jet fuel demand is set for a slowdown in tandem with consumer spending, with the potential to weigh heavily on oil prices. Weaker-than-expected consumption in the United States and China is now putting the brakes on fuel demand growth, which typically accounts for around 7% of global oil demand, as reported by Reuters.
Based on Goldman Sachs data, as reported by Reuters, global jet fuel demand through July this year averaged around…Jet Fuel Demand Recovery Grinds to a Halt
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