Europe is heading into the final months of the year facing a significant jet fuel shortfall as the war involving Iran continues to disrupt global energy supplies, according to , citing data from consultancy Energy Aspects. The continent is projected to face a deficit of around 510,000 barrels per day in the fourth quarter, while other major regions are expected to record surpluses. The United States is forecast to have a small surplus of 18,000 barrels per day during the period, while the Asia-Pacific region is projected to have a much larger surplus of 419,000 barrels per day.
The conflict has disrupted almost half of the jet fuel supplies Europe normally imports, leaving airlines and fuel suppliers increasingly reliant on alternative sources. South Korea has increased shipments to Europe to help fill the gap. According to commodities intelligence firm Kpler, European imports of South Korean jet fuel reached 129,000 barrels per day in September so far, the highest monthly level since October 2022.
However, the additional South Korean supplies have not been sufficient to compensate for volumes lost through disrupted supply routes, leaving Europe facing a substantial projected deficit in the fourth quarter. With disruptions linked to the conflict continuing to affect energy flows, the imbalance between Europe's projected shortfall and surpluses in regions such as Asia-Pacific is expected to remain. Here we are to serve you with news right now.
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