Europe faces Q4 jet fuel supply deficit even as South Korea becomes latest big supplier

Imports from South Korea also coincide with low inventories, with stocks held independently in the Amsterdam-Rotterdam-Antwerp (ARA) oil refining and storage hub hitting their lowest in seven years in the week to September 10. ARA/

Asia is a swing supplier of jet fuel to Europe and traders typically turn there when they judge the arbitrage - the relative prices between the two regions - profitable. Average monthly exports last year were 1.5 million barrels, Kpler data showed.

South Korea's jet fuel output for July hit a seven-year high of almost 13.89 million barrels, while exports reached a 3-1/2-year high, government data showed. O-KROUTPUT-JA1, O-KREXP-JET

An increase in refinery crude processing rates has contributed to this rise in output, and traders expect crude runs for August to be firmer than July. Provisional government data showed July refining runs at 2.7 million barrels per day, up by 16% from June.