Why We Should Worry About Jet Fuel
We recently heard that Europe could be down to a 6-week supply of jet fuel. The problems take us far beyond Europe.With availability plunging and prices rising, jet fuel is one casualty of the Iran War. Looking at Europe’s jet fuel availability, we would see that the last shipment from the Gulf just arrived. As a result, they won’t see shortages for a month or two. Because 75% of Europe’s jet fuel imports (375,000 barrels a day) came from the Gulf, it will all depend on how much they can replenish when inventories sink. The U.S., where they are buying more than usual, is a possibility but it won’t be enough. ….[READ]
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