Wall Street Journal (July 1)
“Once one of the world’s main exporters of petroleum products, Russia has banned exports of gasoline and jet fuel for months as Ukrainian attacks intensified. On Sunday, Putin said he is considering a ban on exporting diesel.” Facing an uneven, but widespread shortage, the government now plans to begin importing oil. Lines for gas currently range from hours-long to overnight or even longer. One local government even “started providing portable toilets alongside mileslong fuel lines.” The situation will probably get worse since “the tempo of Ukrainian attacks” has vastly “outpaced Russia’s ability to maintain its refineries, a task already constrained by international sanctions that ban the import of needed equipment.”
Tags: Attacks, Ban, Diesel, Exports, Gasoline, Government, Hours-long, Importing, Jet fuel, Outpaced, Overnight, Petroleum, Refineries, Russia, Sanctions, Shortage, Ukraine
Financial Times (May 7)
“US fuel exports have surged to a record level as Europe and Asia lean on American energy supplies to make up for the shortfalls caused by the war in Iran.” Last week, America exported over “8.2mn barrels a day of refined fuels including gasoline, diesel and jet fuel,” a year-on-year increase exceeding 20%. Last week’s “huge demand for US energy” also transformed America into “a net exporter of crude oil for the first time since the second world war.” While this provides “a windfall” to US energy companies, “it also risks a political backlash for President Donald Trump as domestic pump prices rise.”
Tags: 20%, 8.2mn bbl, Asia, Backlash, Crude oil, Demand, Diesel, Energy, Europe, Exports, Fuel, Gasoline, Iran, Jet fuel, Record, Shortfalls, Surged, Trump, U.S., War, Windfall
The Times (May 6)
“The Iran war is causing global disruption as airlines battle fuel shortages and growing costs before the peak summer holiday season.” Current estimates suggest “airlines have cancelled more than 13,000 flights scheduled for this month as jet fuel shortages and high prices caused by the war on Iran cause disruption.”
Tags: 000 flights, 13, Airlines, Battle, Costs, Global disruption, High prices, Iran war, Jet fuel, Shortages, Summer holiday season
Business Insider (April 22)
“First, the Iran war made flights more expensive. Now, it’s making them disappear.” Aviation analytics firm Cirium found that “19 of the world’s 20 largest airlines have cut flights in May.” Jet fuel prices have skyrocketed, “doubling in price to almost $200 a barrel. And as the war drags on, jet fuel is getting harder to come by.” Cirium had predicted annual flight capacity growth of 4%-6%, but now envisions a decline of up to 3%.
Tags: $200, Airlines, Analytics, Aviation, Capacity growth, Cirium, Doubling, Expensive, Flights, Iran war, Jet fuel, Prices, Skyrocketed
