The head of the International Energy Agency on Thursday said that Europe’s jet fuel supply is dwindling and could cause flight cancellations in the near future if oil transportation through the Strait of Hormuz does not resume.
Speaking in an interview with the Associated Press, IEA Executive Director Fatih Birol said that due to the significant fuel shortage in Europe, the continent could run out of jet fuel in “maybe six weeks or so.”
Recommended Stories
Birol called the shortage “the largest energy crisis we have ever faced,” one that was ignited by the war in Iran and led Tehran to close off the strait, through which 20% of the world’s oil supply flows. U.S. forces have since implemented their own blockade, barring any vessels traveling to and from Iranian ports from going through the waterway.
Airports Council International Europe, an international association that represents hundreds of airports across Europe, echoed similar concerns last week and said the region faces “system” shortages that will affect travel. The organization added that demands from military operations have also affected airlines’ supplies.
Birol issued an additional warning: that the IEA sees the impact going beyond air travel, and the shortages will also cause “higher petrol prices, higher gas prices, higher electricity prices.”
President Donald Trump has suggested that countries facing fuel shortages due to the war should either buy from the United States or go to the Strait of Hormuz and “take” oil from Iran.
“All of those countries that can’t get jet fuel because of the Strait of Hormuz, like the United Kingdom, which refused to get involved in the decapitation of Iran, I have a suggestion for you: Number 1, buy from the U.S., we have plenty, and Number 2, build up some delayed courage, go to the Strait, and just TAKE IT,” Trump said in March.
European nations, including the United Kingdom and France, have favored a diplomatic approach to the war, rather than offering military support to U.S. and Israeli forces fighting Iran.
IRAN THREATENS TO HALT RED SEA TRADE IF US HORMUZ BLOCKADE CONTINUES
U.S. and Iranian leaders have agreed to peace negotiations after a two-week ceasefire was settled, with the reopening of the strait being a top priority for Washington. Both parties sent envoys to Islamabad, Pakistan, for negotiations last weekend, but the meeting concluded without a breakthrough agreement.
A second round of talks has yet to be scheduled, according to Pakistani officials.
