Europe is facing a jet fuel supply shortage in the final three months of 2026, a situation exacerbated by disruptions caused by geopolitical tensions and rising demand for imports from distant countries.
Jet Fuel Imports from South Korea
Shipping analyses and market data show that South Korea has raised its jet fuel exports to Europe to the highest level in four years in September 2026. Jet fuel imports to Europe from South Korea have reached 129,000 barrels per day, the highest amount since October 2022.
This continent has increased its jet fuel imports from various countries such as Nigeria, the United States, and Canada since the onset of tensions between the United States and the Israeli regime against Iran and disruptions in Middle Eastern energy supplies. In this context, the energy consultancy Energy Aspects has predicted that Europe will face a daily shortage of 510,000 barrels of jet fuel in the fourth quarter of this year.
Jet Fuel Market Conditions
The state of the jet fuel market in Europe has become so critical that James Noel-Beswick, the commodities director at Sparta Commodities, has stated that given the ongoing jet fuel shortage in this continent, imports will continue. Jet fuel is classified among middle distillates, and its price in Europe has faced unprecedented increases in recent weeks.
While diesel prices in Europe have surpassed those in Asian diesel markets due to rising demand and declining supply, the price difference between these two markets has aided in exporting shipments to Europe. European imports from South Korea are occurring while the continent's storage levels have reached their lowest point in seven years.
Data shows that the storage levels at the Amsterdam-Rotterdam-Antwerp (ARA) oil refining and storage hub hit their lowest point in the week ending September 10, 2026. Asia has emerged as an alternative supplier of jet fuel for Europe, and traders have turned to this market due to the profitability of exports.
In fact, South Korea's jet fuel production in July 2026 reached its highest level in seven years, equivalent to about 13 million and 890 thousand barrels. The increase in crude oil processing at the country's refineries has also contributed to the growth of jet fuel production. According to traders, South Korea's crude oil processing volume is expected to increase in August 2026 compared to July.
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