EU warns of potential jet fuel shortages amid Hormuz crisis

The European Commission fears jet fuel supply issues could hit Europe soon due to the Iran war, with prices soaring and a key shipping route blocked.

BRUSSELS: The European Commission said Tuesday it fears Europe could face jet fuel supply issues “in the near future” with no end in sight to the Iran war roiling global energy markets.

“There is no evidence for fuel shortages in the European Union at present, but supply issues could occur in the near future in particular for jet fuels,” said spokeswoman Anna-Kaisa Itkonen.

“That remains our primary concern,” she told reporters.

The airports lobby ACI Europe has warned the commission of a risk of “systemic” jet fuel shortages if maritime traffic is not restored in the Strait of Hormuz by the end of April.

Around a fifth of the world’s jet fuel normally transits through the strategic waterway, which has been blocked by Iran since late February in response to Israeli-American air strikes.

The conflict has sent jet fuel prices soaring, even more sharply than oil prices.

Airlines have trimmed routes and costs as fuel bills explode and wary clients think twice about travel plans, a situation that could persist even if a fragile truce holds in the Middle East.