Europe expects jet fuel shortage in fourth quarter — Channel NewsAsia
Europe is expected to face a jet fuel deficit of 510,000 barrels per day in the fourth quarter of 2026, despite increased supplies from South Korea. Channel NewsAsia reports, citing analysts and maritime shipping data.
Deficit in Europe
According to a forecast by consulting firm Energy Aspects, the United States is expected to have a jet fuel surplus of 18,000 barrels per day in the fourth quarter, while the Asia-Pacific region is expected to have a surplus of 419,000 barrels per day. In the third quarter, the balance between demand and supply was largely the same.
Europe increased its purchases of jet fuel from Nigeria, the United States and Canada after the war with Iran began more than six months ago. According to the source, the conflict affected supplies from the Middle East and reduced roughly half of Europe's imports of this type of fuel. The region remains vulnerable to further supply disruptions amid rising tensions in the Middle East.
Supplies from South Korea
In September, South Korea became one of the major suppliers of jet fuel to Europe. According to Kpler, at the time of publication, European imports of this fuel from South Korea amounted to 129,000 barrels per day, the highest figure since October 2022. LSEG data show similar volumes.
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James Noel-Beswick, head of commodities at Sparta Commodities, said that imports to Europe would continue due to the expected deficit. A widening gap between Asian and European price benchmarks has made fuel supplies to Europe more profitable.
Low stocks at the ARA hub
Imports from South Korea coincide with a decline in independently held stocks at the Amsterdam-Rotterdam-Antwerp refining and storage hub. In the week ending September 10, they fell to their lowest level in seven years.
Jet fuel production in South Korea reached nearly 13.89 million barrels in July, a seven-year high, while exports rose to the highest level in three and a half years. Preliminary government data showed that oil refining in the country amounted to 2.7 million barrels per day, 16% more than in June.
