Jet Fuel Shortages Prompt Airlines to Seek Regulatory Changes Amid Supply Disruptions

Money 6 sources 8 articles
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Jet Fuel Shortages Prompt Airlines to Seek Regulatory Changes Amid Supply Disruptions
Photo: Bloomberg
money· A press review of 6 outlets

  1. "We have had five refinery closures in the last two-and a-bit years in Europe, whereas jet fuel demand has been rising year on year," explains Amaar Khan, head of jet fuel pricing at Argus Media. "So, we see weaker supply, greater demand."

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    CNBC

    Jet fuel shortages threaten to disrupt summer travel as the loss of supplies from the Middle East ripples across Asia and Europe.

    Fortune

    Because European refineries have begun churning out higher percentages of jet fuel—refineries typically pump out much more gasoline and diesel—the more dire consequences aren’t likely to hit European airlines and their passengers until July or August, said Claudio Galimberti, Rystad Energy chief economist.

    ZeroHedge

    UK is ‘particularly vulnerable’ to jet fuel shortages But research by Allianz Trade found the UK had Europe’s “most structurally exposed markets to jet-fuel shortages”.

    Financial Times

    Millions of seats cut as Middle East crisis throws global travel into disarray

  2. Exports from the Persian Gulf represented the largest single source of jet fuel supply to the global market before the U.S. and Israel attacked Iran on Feb. 28, according to the International Energy Agency.

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    BBC Business

    That pungent aroma has become a lot more expensive in recent weeks. The price of jet fuel has risen dramatically on international markets since the start of the conflict in the Middle East. There are now concerns that unless the Strait of Hormuz reopens soon, there could be physical shortages in some areas in the coming months.

  3. U.S. refiners such as Valero and Marathon Petroleum have sought to maximize jet fuel production in response to global demand. U.S. exports usually go to Latin America but deliveries to Europe surged more than 400% to 94,000 bpd in April compared to February when the war started, according to Kpler data.

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    BBC Business

    In late February, before the first US and Israeli airstrikes, jet fuel was trading at $831 per tonne in Europe. By early April, it had touched $1838 – an increase of more than 120%. It has since retreated but has consistently remained above $1500.

  4. The new plan would make it easier for them to trim their schedules in advance, rather than being forced to cancel flights at the last minute. It would, for example, make it easier for an airline that has a number of flights to the same destination on the same day to cut one or two services without being penalised.

  5. Airlines have lobbied for fuel shortages to be explicitly classified as "extraordinary circumstances", which would allow them to avoid making payouts.

From the margins

5 details only one outlet reported

Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.

  1. 01 Bloomberg

    In a matter of weeks, Europeans will begin heading off on their summer vacations — whether or not there will be enough jet fuel to transport them all remains an open question.

  2. 02 CNBC

    Refineries in Asia are struggling to meet domestic and international demand for jet fuel due to the loss of crude oil feedstocks, said Matt Smith, director of commodity research at Kpler.

  3. 03 ZeroHedge

    Michael O’Leary, the boss of Ryanair, Europe’s biggest airline, said rivals were “desperately” searching for flights to cancel.

  4. 04 Fortune

    Jet fuel inventories at the European benchmark of Amsterdam-Rotterdam-Antwerp are down 50% since the start of the war at the end of February, he said. “It is very concerning. It’s been a straight line down, and it will continue to be like that for at least the next few weeks no matter what we do.”

  5. 05 BBC Business

    Step on to the tarmac at any major airport around the world, and you'll notice an unmistakable smell. A slightly sweet, oily scent, redolent of old workshops or antique paraffin lamps. It is as much part of the travelling experience as lukewarm coffee and queues at passport control. It is, of course, the pervasive smell of jet fuel.

Assembled from 5 corroborated claims drawn from 6 independent outlets. Every passage above is taken verbatim — Dorothy doesn't paraphrase or summarize.

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Sources (6)

  • zerohedge
  • bbc-biz
  • fortune
  • bloomberg
  • cnbc
  • ft

Original Articles (8)

Center Jet Fuel Concerns Hang Over Europe as Summer Vacations Approach — Bloomberg
Center Iran war threatens jet fuel shortage that could disrupt summer travel in Asia and Europe — CNBC
Lean Right UK Faces Summer Flight Disruptions As Jet Fuel Risks Mount — ZeroHedge
Lean Left Europe’s jet fuel supplies should fall below the key 23-day shortage threshold in June, so plan your travel accordingly — Fortune
Lean Left The Iran war’s oil shock causes a plastic shortage in Asia, squeezing industries and prompting a ‘Middle East plus one’ rethink of supply chains — Fortune
Center Airlines slash flights as fuel shortage fears mount — Financial Times
Center The threat to summer holidays looming from jet fuel shortages — BBC Business
Center Airlines can cancel flights in advance over fuel shortages, under new plans — BBC Business