European Snapshot: Scramble to Replace Russian Supplies

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European jet fuel markets tightened dramatically in March as regional refiners boosted diesel output to offset lower Russian exports as sanctions started to bite. The supply deficit drove stocks down to 8.2 million tons — nearly one-third lower than year-earlier rates when airline demand was still depleted. Tanks in the UK were nearly 50% below 2021 levels, with Spain showing a 42% shortfall.

Jet Fuel, Oil Products
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