Europe is facing a fourth-quarter jet fuel deficit this year as the US-Israel war on Iran continues to disrupt global supplies, Al Jazeera cites Reuters.
Citing data from consultancy Energy Aspects, the agency says Europe will see a deficit of 510,000 barrels per day in the fourth quarter, against surpluses of 18,000bpd in the US and 419,000bpd in Asia Pacific.
The deficit comes despite South Korea boosting its jet fuel exports to Europe. European imports of the fuel from the Asian nation so far in September stand at 129,000bpd, according to commodities intelligence firm Kpler, the highest since October 2022.
The war has cut off almost half of Europe’s jet fuel imports.
