US jet fuel imports are surging, potentially lowering prices in the U.S.

From Yahoo Finance: 2025-03-24 14:58:00

U.S. jet fuel imports are reaching a two-year high in March due to shipments from Nigeria’s Dangote refinery, potentially reshaping global fuel trading dynamics. The refinery’s success in competing with European refiners includes six vessels carrying 1.7 million barrels of jet fuel to the U.S. so far this month.

Total U.S. jet fuel imports in March hit around 226,000 bpd, the highest since February 2023. Dangote refinery’s production began in January, ramping up to 85% capacity by February, allowing for increased international fuel sales. A rare arbitrage opportunity arose for jet fuel flows from Nigeria to the U.S. due to a maintenance-related shutdown at a New Jersey refinery.

Demand for jet fuel storage tanks in Houston and New York Harbor for April is surging, averaging around 700,000 barrels, driven partly by the influx of supply from Nigeria. This increased supply is expected to lower jet fuel prices in the U.S. ahead of peak summer travel season, despite potential economic headwinds.

U.S. jet fuel stocks hit 45.2 million barrels in February, the highest for that month since 1999. While lower jet fuel prices may be on the horizon, potential economic challenges like a stock market selloff and waning consumer confidence could impact summer air travel.



Read more at Yahoo Finance: US jet fuel imports surge as Nigeria’s Dangote refinery pushes barrels west