Europe experience shortage in refinery capacity

European stocks of jet fuel and diesel stocks have been continually building, while refineries are operating at near-maximum capacity due to strong profit margins. However, European refineries have not been producing sufficient aviation fuel or diesel to meet demand. With storage tank levels at an all-time high, suppliers are being forced to delay shipments by sailing along longer routes to delay the arrival of their tankers. The situation is set to worsen as there is 2.4 million tons of jet fuel booked to arrival in Europe from Asia and the Middle East in October, compared to an average of 1.8