Diesel Prices Surpass Jet Fuel in Europe Amid Growing Shortages
2 sources across 2 countries · Brazil · United Kingdom
Who reported this
- CNN Brasil
- Reuters
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
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Diesel prices in Europe have exceeded the price of aviation fuel for the first time in over a year, according to LSEG data. This shift comes as the continent faces difficulties securing diesel for agriculture and industry while successfully importing jet fuel from the United States and Nigeria. Data from Kpler shows that European jet fuel imports rose to 750,000 barrels per day in June, up from 612,000 barrels per day in January. Conversely, diesel imports fell to 1.56 million barrels per day in July from 1.97 million barrels per day in January. The supply of diesel has been further restricted by a Russian export ban following Ukrainian attacks on refineries. Market analysts from Goldman Sachs noted a higher risk of elevated prices for diesel than for crude oil as winter approaches. Recent price increases are attributed to hostilities in the Strait of Hormuz, the collapse of Russian product supplies, and a deadlock in peace negotiations with Iran.
How each side framed it
- Centre
- Both sources framed the event as a market driven result of geopolitical instability and supply chain disruptions.
Sources
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