Economics
Jet Fuel Gets Olympic Spur as Europe Plants Shut: Energy Markets
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European jet fuel purchases are set to reach the highest levels in more than a year as the London Olympics and Euro 2012 soccer tournament boost travel during the summer months just as refineries in the region are shuttered.
Imports from the Middle East and Asia will increase to about 1.9 million metric tons this month, according to the median estimate in a Bloomberg News survey of two traders and three brokers. That’s the most since at least March 2011, according to data compiled by Bloomberg. Stockpiles fell to the lowest since 2008, PJK International data show.