Media: Europe’s diesel, jet fuel imports slump to decade low amid Hormuz disruptions

Diesel and jet fuel imports into the European Union and the United Kingdom fell by more than a third in May compared with a year earlier, as supply disruptions through the Strait of Hormuz continued to weigh on energy flows, Bloomberg reported.

Imports of diesel and aviation kerosene to Europe have dropped to one of the lowest levels in the past decade, remaining at depressed levels for a second consecutive month, according to the report.

The disruption comes against the backdrop of the war between Iran and Israel and ongoing shipping difficulties in one of the world’s most critical energy transit routes.

Citing data from analytical firm Vortexa, Bloomberg said imports of diesel and jet fuel to the EU and the UK stood at around 1.16 million barrels per day in May, down more than a third from the same period last year.

The figure only slightly exceeded April’s 1.09 million barrels per day, which marked the lowest monthly level since at least 2015.

Europe’s reliance on external supply remains a structural vulnerability, as domestic production is insufficient to meet demand for diesel and aviation kerosene. A significant share of imports traditionally comes from Middle Eastern producers, making the region particularly exposed to disruptions along the Strait of Hormuz.

According to analysts, constrained flows are tightening supply conditions and adding upward pressure on prices across European fuel markets.

"Persistent shipping disruptions through the Strait of Hormuz are restraining flows of petroleum products, tightening supply and pushing prices higher," Bloomberg notes.

By Aghakazim Guliyev