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…
