Europe’s reliance on jet fuel imports from Nigeria and the United States has intensified in April due to geopolitical tensions disrupting traditional supply routes. Data from Kpler and LSEG indicates that European imports from Nigeria reached approximately 66,000 barrels per day this month, marking a record high. This surge highlights Nigeria’s growing significance as a swing supplier since the launch of the Dangote refinery in 2024. Concurrently, U.S. jet fuel exports to Europe are projected to reach between 149,000 and 200,000 barrels per day, also a record, while total U.S. jet fuel exports have doubled to an estimated 442,000 barrels per day compared to last year’s average.
This shift in supply dynamics comes as Europe’s historical dependence on Gulf suppliers, which once accounted for about 75% of its jet fuel imports, has been severely curtailed. The ongoing conflict involving Iran has effectively closed the Strait of Hormuz to tanker traffic, cutting off a critical supply corridor. In response to the supply crunch, European airlines have urged the European Union to implement emergency measures, including potential airspace closures, to mitigate the impact. This supply shortage is evident in storage data, as jet fuel stocks at the Amsterdam-Rotterdam-Antwerp hub have fallen to their lowest level since March 2023.
The International Energy Agency has warned that if Europe cannot secure more than half of the volumes lost from the Gulf, jet fuel stockpiles could drop to a critical 23-day threshold by June, at which point physical shortages would begin. Nigeria’s role in filling this gap is particularly noteworthy, with the country achieving record export levels of 416,000 barrels per day of products so far this month. This increase is driven by both the Dangote refinery and strong international demand, as European and Asian buyers are offering higher prices.
However, domestic pressures in Nigeria persist, as local airlines have threatened to suspend operations from April 20 unless jet fuel prices are reduced, citing a nearly 270% increase since February. In response, the Nigerian government has pledged to intervene to address the price surge. As Europe scrambles to secure alternative fuel sources, the global jet fuel market remains volatile, with supply chains and pricing under intense pressure.
Comments are closed for this story.