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Jet fuel bidding war breaks out as airlines confront ‘global stress test’ over shortages and cancellations
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- The loss of Middle Eastern jet fuel because of the Iran war is quickly becoming an acute logistics problem for Europe, according to analysts at Societe Generale.
- The continent's average daily demand of about 1.6 million barrels of jet fuel a day is typically met primarily through domestic production, at 1.1 million barrels per day.
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Europe is urgently turning to alternative suppliers of jet fuel as imports from the Middle East remain knocked out — but the continent must "fight for every cargo" in what analysts have dubbed a "global stress test" for the airline industry.
The loss of Middle Eastern jet fuel because of the Iran war is quickly becoming an acute logistics problem for Europe, according to analysts at Societe Generale.
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