Renewed Tensions in the Hormuz Area Threaten Europe's Jet Fuel Supplies
Europe remains highly vulnerable to disruptions in jet fuel supplies, despite efforts to increase imports from America and Asia and to boost refinery production, amid worsening military developments in the Middle East. Forecasts indicate a shortage of nearly 600,000 barrels per day during the third quarter of the year, compared to surpluses in the United States and Asia, with inventories less than 30 days' worth of demand in the European market. Although fuel prices have fallen to around $133 per barrel, a rapid decrease in ticket prices is not expected due to the continued strong demand.
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