Falling oil prices and persistent market backwardation triggered an almost 800,000 metric ton jet fuel stock draw in OECD Europe this year to end-May, with almost 450,000 tons drawn in the UK alone. The UK’s Manchester airport ran out of fuel in May when a local refinery glitch was compounded by such justin- time stockholding (JFI Jul.16’12). Cash-strapped refuelers in Spain and Italy have also drawn heavily from tanks this year.
展开▼
