Europe Jet Fuel Supply Seen Easing in Q4 as 900,000 Tonnes Arrive From Asia

Nearly 900,000 tonnes of jet fuel from Asia are scheduled to arrive in Europe over the coming months, easing the risk of a wider shortage, though prices are expected to stay elevated, Kpler said. European jet fuel averaged $207.56 a barrel last week, the highest of any region and up 27.8% from the prior month, according to IATA. Higher crude prices and widening refinery margins have driven the increase. Europe is importing more from South Korea, Nigeria and the United States after disruption to Middle East supply and shipping routes. Kpler put September European jet fuel imports at about 672,000 barrels per day, with those three suppliers accounting for roughly 60%. Kpler said the UK and France are most vulnerable to renewed disruption, while Cirium warned smaller airports with fewer suppliers and less storage would be first to face shortages. The International Energy Agency expects a full recovery of Middle Eastern supply flows to be delayed until 2027.