Oil Prices Jump, but Europe’s Sub-30-Day Jet-Fuel Buffer Is the Hidden Market Risk

European airline shares fell on Monday as renewed U.S.-Iran strikes lifted crude, but the sharper investor signal sits in fuel inventories: Europe has less than 30 days of jet-fuel demand cover, the thinnest cushion among major markets. At the start of June it held 38 million barrels and faced a third-quarter deficit of nearly 600,000 barrels per day, or bpd, while the United States and Asia-Pacific were projected to run surpluses. “We still do expect some tightness through August at this rate,” Rystad analyst Janiv Shah said.