Latest news on the Middle East conflict
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EU says no regulatory barriers to US Jet A use
EU says no regulatory barriers to US Jet A use
Brussels, 8 May (Argus) — The European Commission today said there are no regulatory obstacles to the use in Europe of imported Jet A fuel, which is being considered as an alternative because of a shortfall in Jet A1 supplies. Europe — like most of the world — uses A1-specification jet fuel, whereas the US uses Jet A. The two specifications are almost identical, but Jet A1 importantly has a freeze point of -47°C, which is 7°C lower than Jet A. The US has become Europe's single-largest jet fuel supply region since the closure of the strait of Hormuz, through which 40pc of Europe's jet fuel imports transit. The commission said any fuel grade change requires proper management and communication, and "may require the agreement of the users connected to that system". The EU Aviation Safety Agency (EASA) today outlined "risks associated with the introduction of Jet A fuel in a Jet A-1 environment", including potential "mismatches" between fuel properties and existing operational, technical and procedural assumptions, but said it does not consider these an "unsafe condition". The commission also said airlines can be exempted from the ReFuelEU regulation's 90pc fuel uplift requirement when taking extra supplies from departure airports. Fuel supply issues at airports may also exempt airlines from landing and take-off slot obligations as a "justified non-use of slots". EU energy spokesperson Anna-Kaisa Itkonen said the guidance explains the current legal situation but does not add "anything new". "This is not us recommending airlines what [fuel type] they should be using," Itkonen said. The commission has a "full" overview of commercial jet fuel stocks, she said. "Airlines are not obliged to share this information to us," she said, noting the need to respect commercial confidentiality. In the event of last-minute cancellations, the guidance covers passengers' entitlement to reimbursement, re-routing or return, airport assistance and compensation. Airlines may be exempt from financial compensation if a cancellation was caused by an extraordinary circumstance such as local fuel shortages. "Cancellations caused by exceptionally high fuel prices, as opposed to local fuel shortages, cannot be considered as constituting 'extraordinary circumstances'," the commission said. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iran seizes US-sanctioned oil tanker off Oman: IRNA
Iran seizes US-sanctioned oil tanker off Oman: IRNA
Dubai, 8 May (Argus) — Iran's navy has seized an oil tanker that is sanctioned by the US for moving Iranian oil, on the basis it was "attempting to disrupt oil exports and the interests of the Iranian nation," according to state news agency IRNA. Ocean Koi "was carrying oil cargo of the Islamic Republic of Iran" and was taken by the country's navy to the southern coast, IRNA said. The US treasury included Ocean Koi on its list of sanctioned vessels for links to the Iranian oil trade in February. Oil analytics firm Vortexa shows the tanker, under the name Jin Li , loaded a small amount of high-sulphur fuel oil (HSFO) off the coast of Oman on 7 May with its destination showing the port of Khor Fakkan in the UAE. By Elshan Aliyev Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
European jet premiums lowest since before US-Iran war
European jet premiums lowest since before US-Iran war
London, 7 May (Argus) — Apparent discussions between the US and Iran on reopening the strait of Hormuz pushed European jet fuel spreads to their narrowest since before the war began, adding to existing pressure from prompt supply stability. But outright prices in Europe must remain high to continue attracting that supply. Argus assessed jet fuel cargoes delivered to northwest Europe at a $99.50/t premium to front-month Ice gasoil futures on 6 May, falling by about a third on the day. Refining margins slimmed to below $60/bl. Both are the narrowest since 27 February, the day before the US-Iran war broke out. US president Donald Trump on 6 May said a deal was under discussion with Iran to reopen the strait of Hormuz and end the US blockade of Iranian ports. Front-month Ice gasoil futures dropped by more than 8pc on the day, pushing outright jet fuel prices to $1,287/t, the lowest since the first week of the war. Jet fuel premiums have steadily fallen for more than two weeks. This reflects greater confidence about prompt supply in Europe, thanks to arrivals from the US and Nigeria, domestic refinery output and heavy reliance on inventories, all of which are helping to offset the loss of Mideast Gulf supply until demand ramps up in summer. Flat price high to pull supply But outright prices remain more than 50pc higher than pre-war levels, reflecting global undersupply of jet fuel until flows through the strait of Hormuz return. Europe must compete with other regions, such as east Africa , for the remaining supply. Airline executives and market participants have warned the cost of securing jet fuel will be significant . Airlines appear committed to maintaining supply, but not all will be able to handle such steep fuel costs. This proved fatal for the US' Spirit Airlines , which permanently closed on 2 May. Ryanair chief executive Michael O'Leary said some European airlines could meet a similar fate if prices remain high. By Amaar Khan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
French ship struck in Hormuz not under US escort
French ship struck in Hormuz not under US escort
New York, 6 May (Argus) — A containership owned by France's CMA CGM was not being escorted by the US Navy when it was hit by an Iranian projectile late on 5 May while trying to exit the strait of Hormuz. CMA CGM's containership San Antonio was the "target of an attack" while crossing the strait of Hormuz that resulted in injuries to crew members and damage to the vessel, the French shipowner said Wednesday in a social media post. The injured crew members were evacuated and are receiving medical care, CMA CGM said. A US defense official told Argus that the transit was not coordinated with US forces. Tuesday's failed attempt at crossing the strait came after US president Donald trump announced the suspension of "Project Freedom" on the same day, a short-lived initiative to conduct US naval escorts of commercial ships through the embattled waterway. The Malta-flagged vessel has not transmitted a live Automatic Identification System (AIS) signal in over 24 hours, and its last position showed it inside of the strait of Hormuz, MarineTraffic data shows. "Changes announced at short notice or changes that are surprising, such as the sudden suspension of Project Freedom, are a challenge for shipowners attempting to assess the risks and planning for leaving the Persian Gulf," shipping association Bimco's chief safety and security officer Jakob Larsen said. CMA CGM's decision to risk the San Antonio strait transit may have also stemmed from the successful crossing achieved by the CMA CGM Saigon . Vessel tracking shows the latter containership outside of the strait of Hormuz on 6 May after reactivating its AIS, despite last being observed outside of Dubai on the other side of the strait on 5 May. The key takeaways from the attack are that Iran retains the ability to detect, ID and target ships with AIS off and at night, and that they retain control of the strait of Hormuz, said EOS Marine Risk Group head of advisory Martin Kelly. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
