economy
April 18, 2026
Europe’s jet fuel reserves could run dry within ‘six weeks’, IEA Executive Director Fatih Birol warns
Europe could run out of jet fuel within six weeks as blocked oil flows through the Strait of Hormuz disrupt supply chains and force airlines to cut flights, the International Energy Agency Executive Director Fatih Birol warns
TL;DR
- Europe has approximately six weeks of jet fuel reserves left.
- Disruptions to oil flow through the Strait of Hormuz, caused by a US-Israeli bombing campaign and subsequent blockade, are the primary reason for the shortage.
- Airlines are already experiencing cancellations and increased fares due to soaring jet fuel costs.
- The crisis could lead to higher prices for petrol, gas, and electricity globally.
- Russia is positioning itself to fill potential oil supply gaps, with several Asian countries expressing interest in Russian crude oil and liquefied petroleum gas.
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