Imports of diesel fuel and aviation kerosene to European Union countries and the United Kingdom remain at extremely low levels for the second consecutive month. Against the backdrop of the war between Iran and Israel and shipping problems through the Strait of Hormuz, this creates additional pressure on the European energy market. This is reported by Bloomberg, according to UNN.
According to the analytical company Vortexa, in May, imports of diesel and jet fuel to the EU and the UK amounted to about 1.16 million barrels per day. This is more than a third less compared to the same period last year.
At the same time, the figure only slightly exceeded the April level, when delivery volumes were 1.09 million barrels per day – the lowest figure for any month since at least 2015.
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As the agency notes, Europe does not produce enough diesel fuel and aviation kerosene to cover its own demand, and therefore depends heavily on imports. A significant portion of these supplies traditionally comes from Middle Eastern countries.
However, ongoing shipping disruptions through the Strait of Hormuz – a key maritime route for transporting energy resources from the Persian Gulf – significantly complicate supplies.
According to analysts, the reduction in imports leads to a decrease in market supply and creates additional pressure on fuel prices in Europe.
"Persistent shipping disruptions through the Strait of Hormuz are restraining flows of petroleum products, tightening supply and pushing prices higher," Bloomberg notes.
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