Europe imported record amounts of jet fuel from Asia over its peak summer holiday season, helping to push prices down and underlining the increasing market dominance of Chinese and South Korean refineries.
Almost 11.5mn barrels of jet fuel were transported from east to west so far in August, according to data from Vortexa, an energy data company. While orders peaked in June and July, flows remain elevated.
“We have record arrivals from the Far East if you look at the amount of [jet fuel] loading out of China and Korea, and that’s both a pull and push,” said one senior jet fuel trader, who asked not to be named, referring to European demand and strong Asian supply.
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