European Snapshot: Tanks Fall on Lower Imports

摘要

European jet fuel stocks continued to slide last October as a slump in imports failed to meet even out-of-season airline fuel demand. Europe’s lifeblood jet imports dropped 4% month-on-month and were flat versus year-earlier levels, as spiking prices in Asia squeezed the vital long-haul flow and several large East of Suez tankers were diverted to the US East Coast. A heavier than usual end-of-season maintenance program saw European refinery throughputs crashing 5.4% year- on-year in October as utilization rates fell toward 80%.