European jet fuel shortage worsens
Europe is facing a shortage of jet fuel supplies in the fourth quarter of the year, despite increased imports from South Korea, which recorded its highest export level in four years. The gap is expected to reach 510,000 barrels per day, due to the impact of the Middle East crisis on oil supplies, and a decline in jet fuel inventories at European refineries to the lowest level in seven years. As tensions in the Middle East escalate, Europe remains vulnerable to the risk of greater fuel supply disruptions.
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