Trump's War Sends Airlines Scrambling in Jet Fuel Bidding War
Source: daily beast
COSTS TAKE OFF
Martha McHardy Published 04.29.26 11:51AM EDT
Europe’s airlines are scrambling to secure jet fuel supplies as a disruption to Middle Eastern exports, triggered by the U.S.-Iran conflict, fuels a global bidding war for cargoes and pushes prices higher. Europe typically consumes about 1.6 million barrels of jet fuel a day, with roughly 500,000 barrels imported—most of which are historically sourced from the Middle East. But shipping flows through the Strait of Hormuz have been severely disrupted since the conflict began, leaving a major supply gap. With Gulf supplies curtailed, Europe is turning to the U.S., Nigeria and Asia for jet fuel, but competition is fierce. U.S. exports have surged to record levels, yet European buyers are now competing with buyers in Singapore, Australia and elsewhere. Meanwhile, the International Energy Agency has warned Europe could face jet fuel shortages within weeks. The shortages are already affecting flights. Last week, Lufthansa canceled about 20,000 flights, saying the move would save more than 40,000 metric tons of jet fuel. Air France-KLM said it has responded to the “sharp and sudden” rise in fuel prices by raising fares and adjusting schedules in the coming months.
Read more: https://www.thedailybeast.com/trumps-war-sends-airlines-scrambling-in-jet-fuel-bidding-war/
Trump’s War Sends Airlines Scrambling in Jet Fuel Bidding War
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Meanwhile, the International Energy Agency has warned Europe could face jet fuel shortages within weeks
www.thedailybeast.com/trumps-war-s...