Trump says US has plenty of jet fuel for Europe, market disagrees

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices retreat from 2022 levels as Trump says Iran asked for a ceasefire Stocks kick off April on a strong note after Trump says Iran asked for ceasefire Trump says Iranian ’president’ asked for ceasefire; Tehran denies claim Now up 169%+: A new list of AI-picked stocks for April IS NOW LIVE (South Africa Philippines Nigeria) Trump says US has plenty of jet fuel for Europe, market disagrees By Commodities Published 04/01/2026, 08:26 PM Updated 04/01/2026, 08:31 PM Trump says US has plenty of jet fuel for Europe, market disagrees 0 By Shariq Khan NEW YORK, April 1 - President Donald Trump this week told countries struggling to get jet fuel due to Iran’s blockade of the Strait of Hormuz to buy from the U.S., but analysts say there is a major problem with his advice: the U.S. can’t cover the global shortfall. "We have plenty," Trump wrote in a Truth Social post on Tuesday. U.S. government data shows that’s not the case. About half a million barrels a day of jet fuel is exported out of the Strait of Hormuz, mainly to Europe and some to Asia and Africa, data from vessel-tracking service Kpler shows. Total U.S. jet fuel exports, meanwhile, averaged 219,000 bpd last year, data from the Energy Information Administration, the Department of Energy’s statistical arm, shows. "It is very, very, very unlikely that the U.S. can replace the Strait of Hormuz supply," Kpler analyst Matt Smith said. REALITY CHECK The United States is the top consumer of jet fuel globally, and most of the jet fuel the country produces is consumed domestically, EIA data shows. Last week, refiners and fuel blenders produced 1.97 million bpd of jet fuel, which was just slightly above demand of 1.79 million bpd, EIA reported. "Even if the U.S. had plenty of jet fuel, it has plenty of airlines too," Smith said. Moreover, most U.S. jet fuel production is concentrated in the U.S. Gulf Coast, and major demand centers along the country’s East Coast a...