The jet fuel crisis is 'a slow motion car crash', says Kpler's Matt Smith

Summary

Matt Smith from Kpler discusses the ongoing jet fuel crisis, describing it as a slow-motion car crash. He highlights supply chain disruptions, record US crude exports, and rising gasoline prices. He expresses concern about potential flight cancellations due to jet fuel shortages.

• Global jet fuel exports dropped from 2 million to 1.3 million barrels per day.
• Asia struggles to get crude needed to refine jet fuel.
• US is well supplied but its products are being pulled to Europe and other regions.
• US gasoline national average approaching $4.50 per gallon.
• Forward oil curve is undervalued due to expected future inventory building.
• More flight cancellations are expected across regions.
• The crisis could spread to other refined products.