Europe's aviation fuel reserves less than one month, report says
Europe remains the region most vulnerable to aviation fuel supply disruptions, with its reserves covering less than 30 days of consumption, according to Reuters calculations.
Europe has imported aviation fuel from the U.S. and Asia, boosted refinery output, and tapped existing stocks to keep air travel running. However, the region is still the most exposed to new supply shocks amid heightened Middle East tensions, data show.
The U.K., France, and Germany are particularly at risk. Decades of refinery closures have made Europe heavily dependent on shipments from the Middle East via the Strait of Hormuz, which partially resumed operations in June but came under renewed threat in July as a fragile ceasefire was undermined by attacks.
Consultancy Energy Aspects estimated on June 18 that Europe would face a supply deficit of nearly 600,000 barrels per day in the third quarter, while the U.S. would have a surplus of 116,000 bpd and the Asia-Pacific region 425,000 bpd. According to the same firm, European stocks stood at 38 million barrels in early June, compared with 99 million in the U.S. That gives Europe less than 30 days of consumption, the lowest among major aviation fuel markets.
EU Energy Commissioner Dan Jørgensen acknowledged the situation could worsen. He said in June that by the end of the summer holiday season, the EU would face tighter supplies, and Brussels would coordinate the release of national reserves if necessary.
