The United States is set to receive record-high jet fuel imports in March, driven by increased shipments from Nigeria’s Dangote refinery. The influx, which is expected to lower aviation fuel prices ahead of peak summer travel, highlights the refinery’s growing role in reshaping global fuel trade.
Key data:
- Imports: 1.7 million barrels from Dangote refinery arrived at U.S. ports in March.
- Storage demand: Lease requests for jet fuel storage in Houston and New York Harbor surged to 700,000 barrels, five times the usual demand.
- Market impact: Increased supply may reduce U.S. jet fuel prices.
Dangote’s entry into the jet fuel market follows its success in exporting gasoline, positioning it as a key swing supplier in the Atlantic Basin. However, analysts believe this may be a temporary shift, as U.S. inventories remain high.
Source: reuters.com
