Europe jet fuel shortage: Europe could soon begin to feel the real impact of the ongoing Iran war, with energy supplies tightening and disruptions becoming more visible in daily life. According to IEA Executive Director Fatih Birol, the continent may have only "maybe six weeks or so" of jet fuel left if current supply blockages continue, raising the possibility of flight cancellations in the near future, as per a report.
Speaking in Paris, Birol described the situation as one of the "the largest energy crisis we have ever faced," as quoted by AP. With oil, gas, and other key supplies restricted through the Strait of Hormuz, the effects are already spreading beyond the region. He warned that the longer the disruption lasts, the more pressure it will put on global economic growth and inflation, with rising fuel, gas, and electricity prices expected.
He pointed out that, "In the past there was a group called 'Dire Straits.' It's a dire strait now, and it is going to have major implications for the global economy. And the longer it goes, the worse it will be for the economic growth and inflation around the world," adding that the impact will be "higher petrol (gasoline) prices, higher gas prices, high electricity prices," as quoted by AP.
While the crisis is global, its impact will not be equal. Birol noted that developing nations in Asia, Africa, and Latin America are likely to be hit the hardest. Still, he stressed that no country will escape the effects entirely, regardless of wealth or energy resources.
He highlighted that, "Some countries may be richer than the others. Some countries may have more energy than the others, but no country, no country is immune to this crisis," as quoted by AP.
The situation could worsen if the vital waterway remains closed. Birol warned that some oil products may run short, and in Europe, reduced jet fuel supplies could soon disrupt travel between cities.
He also raised concerns about Iran's use of a "toll" system for ships passing through the strait, warning that it could set a wider precedent for other major trade routes if allowed to continue.
Meanwhile, more than 110 oil tankers and over 15 liquefied natural gas carriers are currently stuck in the Persian Gulf, unable to move freely.
Even if tensions ease, damage to more than 80 energy facilities in the region, many of them severely hit, means recovery will take time. Birol said it could take up to two years for production levels to return to what they were before the war, as per the AP report.
Why is Europe facing a jet fuel shortage?
Supply disruptions linked to the Iran war and blocked routes are limiting fuel availability.
How long could Europe's jet fuel last?
It may have only around six weeks of supply if the situation continues.