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Red Sea Crisis Threatens Jet Fuel Supplies

JET FUEL

Europe’s jet fuel supplies are more vulnerable than any other commodity import, Matthew Wright, an analyst at Kpler told the Telegraph.

  • “Three quarters of the jet fuel is currently in transit to Europe is travelling from Asia and the Middle East, meaning it would normally transit through the Suez Canal,” he said. This equates to 4.6m bbl.
  • Over half is being held up while shipping companies decide whether to reroute.
  • Cristina Haus, editor of Jet Fuel Intelligence, told the Telegraph that markets are yet to price in the scale of the risks and prices will rise as the conflict continues.
  • “There is no question about it. Markets have been relatively sanguine about what is going on, but day by day it is getting worse, and it could really erupt into a major Middle Eastern conflagration,” Haus said.
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