Post #21942

News: Three ships carrying 120,000 mt diesel, 60,000 mt jet fuel for #Ethiopia delivery stranded in the Arabian Gulf The disruption halted 60% of Ethiopia’s diesel imports and 100% of its jet fuel supply, forcing the government to turn to the costly spot market, the ministry said. “60% of white diesel and 100% of jet fuel are purchased from the Government of Kuwait, while the remaining 40% of white diesel and 100% of benzene and black oils (fuel oils) are supplied through a tender process.” Due to the closure of the Kuwaiti supply caused by the war, the premium obtained in the emergency purchase tender reached $86.33 per barrel for jet fuel and $92.88 for diesel, causing prices to skyrocket. https://addisstandard.com/?p=56308