‘Summer should be fine’ as Europe’s jet fuel fears ease

BRUSSELS — Europe is now considered unlikely to face a jet fuel supply crisis and major flight disruptions in the coming weeks — a big change from the dire warnings of just a few weeks ago. The core reason for the shift is a hike in prices, which encouraged refiners and traders to redirect fuel cargoes toward Europe, helping offset lost Gulf supplies faster than policymakers initially expected. However, there are still concerns about fuel supplies by the early fall if the U.S.-Israeli war against Iran continues and oil shipments through the Strait of Hormuz don’t return to normal levels. “Our fuel suppliers as recently as this week have confirmed they expect no supply disruption right out to the middle of July, and the...

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