Finance
Europe Could See Jet Fuel Shortage by June, Iea Says
Published by Global Banking & Finance Review®
Posted on April 14, 2026
2 min readLast updated: April 14, 2026
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Published by Global Banking & Finance Review®
Posted on April 14, 2026
2 min readLast updated: April 14, 2026
Add as preferred source on GoogleEurope faces potential jet fuel shortages by June if it can only replace half of its Middle East supplies, warns the IEA; demand averaged around 7.7–7.8 million bpd in 2025, and stocks below a 23‑day coverage could trigger disruptions.
LONDON, April 14 (Reuters) - Europe could start seeing physical shortages of jet fuel by June due to the Iran war if the region is only able to replace half of the fuel supplies it normally gets from the Middle East, the International Energy Agency said in its monthly report.
Global jet fuel and kerosene demand averaged 7.8 million barrels per day in 2025, with Gulf exports the largest source to the global market, averaging nearly 400,000 bpd, the report added.
Europe has the highest dependency on jet fuel from the Middle East, with the region supplying nearly 375,000 bpd, or 75%, of Europe's net jet fuel imports.
Within Europe, levels of stockpiled fuel vary from country to country. Spain, with plentiful stocks, is a net exporter of jet fuel, while Britain, which is also the region’s largest consumer, imports 65% of its demand.
If Europe manages to replace all of its Middle East imports and volumes, jet fuel stocks will adequately cover the IEA's assessment of 2026 demand.
If stocks of jet fuel in Europe were to drop below 23 days of demand cover, physical shortages and demand destruction would emerge at select airports. Europe's stocks have not dropped below 29 days' cover since 2020.
If Europe is only able to replace 75% of its Middle East volumes, there would be insufficient inventory to meet demand in summer months and stocks would drop below the 23-day level by August. But if only 50% of the supply is replaceable, then stocks will hit the 23-day level in June.
(Reporting by Seher Dareen in London, editing by Alex Lawler and xx)
Europe may face a jet fuel shortage by June if it can only replace half of its usual Middle East supply due to disruptions linked to the Iran war.
Europe relies on the Middle East for about 75% of its net jet fuel imports, with nearly 375,000 barrels per day supplied.
If only half can be replaced, jet fuel stocks may fall below 23 days of demand by June, leading to shortages and demand destruction at some airports.
Spain has plentiful stocks and is a net exporter of jet fuel, while Britain imports 65% of its demand and is the region’s largest consumer.
The IEA considers 23 days of demand coverage as the minimum safe level; stocks below this threshold may cause physical shortages.
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