Europe faces fourth-quarter jet fuel deficit despite record South Korean imports

Europe is facing a fourth-quarter jet fuel deficit, even as it increases imports from distant suppliers like South Korea, Nigeria, the United States, and Canada. The shortage stems from the Iran war, which cut off about half of Europe's jet fuel imports. Energy Aspects forecasts a deficit of 510,000 barrels per day for Q4. South Korea has become a major supplier, with September imports at a four-year high. Inventories in the ARA hub are at a seven-year low, and the price spread makes exports to Europe profitable.