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Jet fuel exports drop 30% amid Strait of Hormuz closure, risking global summer travel disruptions.

Market News
06 May 2026
CNBC
View Source
Bearish
pluang ai news

Jet fuel exports have fallen sharply by 30% due to the closure of the Strait of Hormuz following conflict in the Middle East, causing a significant supply shortage. Europe, heavily reliant on Middle Eastern jet fuel, faces a potential systemic shortage, with airlines already cutting flights due to soaring prices. Asian refineries also struggle as they depend on Middle Eastern crude oil, compounding the supply issues. U.S. refiners are boosting jet fuel production and exports to help, but global shortages may worsen through the summer travel season if the strait remains closed.

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