finance
European Airlines Report Jet Fuel Supply Stable for Summer
European airlines say they expect no jet fuel shortage this summer after refiners increased output and buyers arranged more shipments from the United States and Nigeria. The shift follows supply losses tied to the Iran war and the closure of the Strait of Hormuz.
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European airlines say they expect no jet fuel shortage this summer after refiners increased output and buyers arranged more shipments from the United States and Nigeria. A month into the Iran war and the Strait of Hormuz crisis, airlines, officials, and analysts had warned that Europe had only weeks of jet fuel supply and that a shortage could begin in mid-May or by the end of May.
Refiners have raised jet fuel production while importers have added shipments from the United States and Nigeria to replace volumes previously sourced from the Middle East.
Birol, executive director of the International Energy Agency, stated in mid-April that Europe had "maybe six weeks or so" of remaining jet fuel supply. "If we are not able to open the Strait of Hormuz ... I can tell you soon we will hear the news that some of the flights from city A to city B might be canceled as a result of lack of jet fuel," Birol said.
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