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Strait of Hormuz disruption: a perfect storm for European middle distillates
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Report summary
Europe faces an unprecedented diesel and jet fuel crisis. The March 2026 Strait of Hormuz closure has severed Persian Gulf supplies that provided 60% of Europe's jet fuel and 30% of its diesel—the same supplies that replaced Russian imports banned in 2023. Europe has now lost both its primary and previous supply sources within three years. This analysis examines Europe's exposure, the cascade effect through India's compromised refining capacity, and why alternative solutions fall short.
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