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India just sent jet fuel to the US West Coast for the 1st time
Business
India has shipped jet fuel all the way to California—a first—for energy giant Chevron.
This 60,000-ton cargo left Reliance's Jamnagar refinery at the end of October and is now crossing the Pacific by tanker.
Why? A fire knocked out key units at Chevron's big El Segundo refinery, leaving local supplies tight and prices soaring $10 above Asia's usual rates.
So, will India become a regular jet fuel supplier?
Not likely. Traders say this was a one-off move—Northeast Asian suppliers are usually cheaper and already send far more fuel to the US West Coast.
Basically, India stepped in this time because of an emergency, but don't expect it to become a new normal.