Europe is ramping up purchases of jet fuel as market participants stock up ahead of the peak summer travel season, benefiting from the availability of cargoes from the Middle East and India.

Northwest Europe (NWE) imported almost 1.8 million metric tons of jet fuel in May, up from 1.2 million mt in April and the highest for any month since October 2024, according to data from Vortexa.

Moreover, as both Kuwait and India boost export volumes, arrivals into NWE are expected to be even higher in June.

Meanwhile, jet fuel volumes going into the Mediterranean are also on the rise. Jet imports surged to 0.63 million mt in May, of which 0.25 million mt were unloaded in Spain.

Brisk shipment arrivals in May and expectations for even higher volumes in June are weighing on jet fuel valuations, with CIF premiums for cargoes in NWE plunging to just $41.25/mt on May 30. This is down from a high of $59.75/mt on May 14, according to OPIS data.

“Arbitrage flow is big, hence the drop,” a jet broker told OPIS.

And market analysts see jet fuel arbitrages from the Arabian Gulf and India into NWE still open for the coming months.

“Routes for July, August and Q3 arrivals remain open, meaning European jet markets are likely to remain under pressure into the medium term,” James Noel-Beswick from Sparta Commodities said.

So far this year, NWE imported around 6.5 million mt of jet fuel, of which 3.4 million mt was from Kuwait.

Kuwait National Petroleum Company (KNPC) in 2024 completed the ramp-up of the 615,000 b/d Al Zour refinery, significantly expanding the potential for the country to export middle distillates. In that regard, this increase in supplies from the Middle East is squeezing Korean and Chinese refiners out of the European market.

“Northeast Asian jet fuel exports to Northwest Europe have fallen for the third consecutive year in year-to-date 2025, with diminishing arbitrage opportunities in a highly competitive market,” Vortexa’s analyst Xavier Tang said.

On the demand side, air traffic in Europe has recently surpassed 33,000 flights/day and is expected to reach 36,000 by July, according to Eurocontrol.

Jet fuel consumption in the region tends to surge in the summer, buoyed by holiday travel. Last year, monthly EU and U.K. jet fuel demand peaked at 5.8 million mt in July and stayed strong throughout the rest of the third quarter.

However, year-on-year growth in air traffic is slowing down amid tight airline capacity, with flight counts up by a mere 2% by the end of May. Ryanair, the largest airline in Europe, has warned that its expansion efforts are being hampered by delays in Boeing aircraft deliveries.