Global Jet Fuel Exports Crash to 1.1 Million Bpd, Hitting 10-Year Low in April

1 articles · Updated · OilPrice.com · May 8

1.1 million bpd of seaborne jet fuel exports moved in April, down 630,000 bpd from a year earlier and landing at the bottom of the 2016-2025 range, Vortexa said.
Middle East barrels remained trapped behind the Strait of Hormuz, while Asian refiners cut run rates on weaker crude availability and kept more fuel for domestic markets.
Northeast Asia and India’s west coast saw exports slump, tightening the market enough for officials and airline executives to warn of shortages; the IEA said Europe had maybe six weeks of jet fuel left in mid-April.
May and June exports are expected to recover modestly as Asian refiners chase high margins, with South Korea potentially lifting utilization as crude arrivals rebound to about 80% of pre-war levels.
That rebound could reopen arbitrage flows to the U.S. West Coast and Northwest Europe, but Vortexa said extra Asian supply is unlikely to fully replace lost Middle East barrels soon.

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