Just when investors were beginning to come to terms with weak oil demand amidst a synchronized global economic slowdown, a deadly viral outbreak in the world’s most populous nation has put paid hopes for a quick recovery and placed the oil market in danger of a complete meltdown. Asian jet fuel refining margins have now seen their biggest monthly fall in over 10 years. Global demand for jet fuel is expected to take a big hit after a series of carriers suspended flights to China amid the marauding coronavirus that has so far claimed 362 lives and infected another 17,300 people across the globe. Key international airlines that have cancelled or reduced flights to China include British Airways, Lufthansa, American Airlines, United Airlines, Austrian Airlines and Swiss International Air Lines. Jet crack spreads — a metric that measures the differential between an oil product and the crude from which […]