European jet fuel stocks started the year in good shape at some 9.3 mil- lion tons - some 2.4% ahead of the year-earlier mark. Gains of more than 4% in the UK, Spain and Italy offset a year-on-year deficit of nearly 5% in France. European refiners churned out 3.54 million tons of jet fuel even as refinery utilization rates declined, with another 2.95 million tons flowing into regional ports as imported supplies.
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