Europe is facing a jet fuel supply shortage in the final three months of 2026. Recent data shows that despite ongoing efforts by Europe to secure fuel from distant suppliers, the continent is severely confronted with a jet fuel crisis.
Increase in Imports from South Korea
South Korea is set to increase its jet fuel exports to Europe to the highest level in four years in September. Given the disruptions in energy supply from the Middle East and a reduction of about half in jet fuel imports to Europe, the continent has turned to sourcing fuel from countries like Nigeria, the United States, and Canada. Currently, data from Kpler indicates that jet fuel imports from South Korea have reached 129,000 barrels per day in September, the highest amount since October 2022.
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Severe Jet Fuel Shortage Forecast
The energy consulting firm Spects predicts that Europe will face a daily shortfall of 510,000 barrels of jet fuel in the fourth quarter of this year. Meanwhile, the United States and the Asia-Pacific region are expected to have surpluses of 18,000 and 419,000 barrels per day, respectively. Additionally, jet fuel storage in Europe is in a critical state, and in the week ending September 10, storage levels in key refining and storage areas have reached their lowest point in the past seven years.
Given the ongoing jet fuel shortage and the critical state of storage, it is expected that Europe’s imports from South Korea will continue. Diesel prices in Europe have also risen unprecedentedly, and this price difference between Asian and European markets has made exporting shipments to Europe more profitable. As a result, traders are turning to sourcing jet fuel from Asia due to price disparities.
Currently, South Korea is positioning itself as a major jet fuel supplier for Europe, and these changes could have profound impacts on prices and fuel supply in the European continent. In light of these developments, energy markets in Europe are significantly affected, and the consequences may become more apparent in the near future.
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