US jet fuel could be used in Europe to ease shortages
BBC reports that potential jet-fuel shortages in Europe ahead of the summer travel season could be eased by US exports. Suppliers are building stocks to buffer the logistical impact of the Iran war. The move provides a cushion that could limit airline cost pressure.
BBC Business reports that European airlines are preparing for a possible summer jet-fuel squeeze by sourcing additional supply from the United States. Pressure on shipping routes through the Strait of Hormuz, caused by the Iran war, has forced a rerouting of tankers towards Mediterranean ports. Falling stocks at European refineries are an additional strain on the supply chain.
US refiners have confirmed that they are accelerating export plans aimed at Europe. According to industry sources cited by Reuters, transatlantic shipments will rise through the end of June. The European Commission has called on member states to review their strategic fuel reserves.
Airline body IATA said jet-fuel prices rose 18% year on year in April. Analysts argue that US exports can limit short-term volatility, but a structural fix requires a normalisation of Hormuz traffic. Carriers warn that strong booking demand could still push fares higher through the summer if the supply situation does not improve.
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