Europe may soon encounter a shortage of jet fuel as regional stocks dwindle to their lowest levels in seven years, according to recent data. Despite increased imports from Asia and other key suppliers, the continent faces a potential deficit of approximately 510,000 barrels per day in the fourth quarter of this year, analysts warn.
Jet fuel inventories in the major storage hubs of Amsterdam, Rotterdam, and Antwerp have significantly decreased, marking a critical point for the aviation sector. While the Swedish Energy Agency reports that supplies of gasoline and diesel remain stable, it acknowledges that aviation fuel could experience short-term supply constraints both in Europe and Sweden.
To mitigate the looming shortage, Europe has ramped up jet fuel imports from Asia, reaching about 129,000 barrels per day in September. Additional supplies from Canada, Nigeria, and the United States have also contributed to easing immediate concerns over shortages. However, these efforts may not be enough as global tensions continue to strain energy supplies.
Compounding the situation are disruptions in global energy markets, exacerbated by the ongoing conflict in the Middle East. Attacks targeting energy infrastructure in Saudi Arabia have further driven up oil and gas prices across Europe, adding pressure to the already tight supply of jet fuel.