Europe faces jet fuel shortage as Middle East supplies halt

Brussels: Europe is facing a critical risk of jet fuel shortages following the complete cessation of shipments from the Middle East this month. The disruption, triggered by the ongoing conflict and the closure of key shipping routes, comes at a precarious time as the aviation industry prepares for the peak summer travel season.

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Market data indicates that European jet fuel imports from the Middle East will vanish entirely in April, a historic first since records began in 2017, while direct exports from the region to Europe have plummeted to all-time lows. European OECD nations consume approximately 1.6 million barrels per day of jet fuel and kerosene, while regional refineries produce only about 1.1 million barrels, leaving a structural deficit of 500,000 barrels per day that must be met through imports.

Europe has historically relied heavily on the Middle East, which provided roughly 60 percent of the continent's external jet fuel imports last year, according to Kpler data. This dependency leaves the European market highly vulnerable to regional hostilities or the closure of vital shipping lanes.

While airlines and suppliers have downplayed the immediate risk of a crisis, the International Energy Agency previously warned that Europe could face actual shortages by June if it fails to replace more than half of its usual Middle Eastern supplies. Meanwhile, jet fuel prices have surged above $200 per barrel as inventories remain limited.