Europe’s Jet-Fuel Shortage Fears Ease as Refineries Boost Output, Imports Rise
Europe’s feared summer jet-fuel shortage may be easing as refiners maximize kerosene output and imports from the U.S. and Nigeria rise to replace lost Middle Eastern supply. That marks a shift from earlier warnings by the International Energy Agency that continued disruptions in the Strait of Hormuz could leave Europe short of aviation fuel.
The strain is moving from availability to price, though supply risks remain. Jet fuel accounts for less than 7.5% of total oil demand globally, so relatively small changes in refining output and airline consumption can quickly alter the market balance, even as the IEA has warned that commercial oil inventories are depleting rapidly.
From the sources (15 posts)
@javierblasCOLUMN: The war in Iran is squeezing airlines, but your European summer holiday flights should still be fine. Right now, oil refiners are squeezing more jet-fuel than ever from each barrel of crude to prevent a shortage. @Opinion https
@firstsquawkIEA CHIEF BIROL STATES OIL STOCKS ARE RUNNING LOW, ONLY A FEW WEEKS LEFT.
@firstsquawkIEA CHIEF BIROL: RELEASE OF STRATEGIC OIL RESERVES HAVE ADDED 2.5 MLN BARRELS OF OIL PER DAY TO MARKET BUT THEY ARE NOT ENDLESS
@financialjuiceIEA Chief Birol: Commercial oil inventories are depleting rapidly, weeks left
@financialjuiceIEA Chief Birol: There is a perception gap between the physical oil market and futures
@financialjuiceIEA Chief Birol: Release of strategic oil reserves has added 2.5 mln barrels of oil per day to the market, but they are not endless
@polymarketintelIEA Chief Birol: Commercial oil inventories are depleting rapidly, weeks left
@businessIEA Executive Director Fatih Birol warned that the tally of commercial oil inventories is shrinking at an accelerated pace
@mossadilA WAR OF ATTRITION: WHO TAPS OUT FIRST? The head of the International Energy Agency warns that commercial oil inventories are rapidly depleting, with only weeks left. That means the clock is now part of the battlefield. Pressure is build
@trtworldThe International Energy Agency says Europe could face jet fuel shortages if disruptions in the Strait of Hormuz continue
@javierblasRT @JavierBlas: COLUMN: The war in Iran is squeezing airlines, but your European summer holiday flights should still be fine. Right now, o…
@deitaoneOIL STOCKS FALLING FAST, IEA WARNS The International Energy Agency warned that commercial oil inventories are dropping rapidly and will keep falling in the coming weeks, IEA chief Fatih Birol said at the G7 finance ministers meeting in Par
@theinsiderpaperJUST IN - Oil stocks declining 'very fast', IEA chief warns
@steve_hankeMore evidence that refineries are doing everything possible to avoid a JET FUEL CATASTROPHE.
@oilandenergyEurope’s feared summer jet fuel shortage may be easing as refiners maximize kerosene output and imports from the U.S. and Nigeria rise to replace lost Middle Eastern supply. The crisis is shifting from availability to price. #JetFuel #Aviat