South Korea Becomes Major Jet Fuel Supplier to Europe as Middle East Tensions Threaten Supply

South Korea has become a crucial new supplier of jet fuel to Europe, with exports in September hitting 129,000 barrels per day, the highest since October 2022, as reported by commodities intelligence firm Kpler. LSEG data corroborates these shipment figures. This shift occurs as Europe grapples with increased risks of supply interruptions due to escalating tensions in the Middle East. Energy Aspects, a consultancy, anticipates a jet fuel shortfall of 510,000 barrels per day in Europe for the fourth quarter, contrasting with surpluses of 18,000 barrels per day in the U.S. and 419,000 barrels per day in the Asia-Pacific. South Korea's rising exports signify a significant change in global jet fuel trade dynamics, highlighting Europe's reliance on imports amid geopolitical uncertainties.