Europe could run out of jet fuel in 6 weeks throwing flights into chaos in time for summer

Europe has “maybe six weeks or so” of jet fuel left before it’s forced to start canceling flights, if oil supplies remain blocked by the Iran war — just in time for summer vacation, the head of the International Energy Agency warned on Thursday.IEA Executive Director Fatih Birol described the current situation as “the largest energy crisis we have ever faced” — as he called for the Strait of Hormuz to reopen and allow global oil and gas supplies to flow.“Several European countries may start to face shortages of jet fuel in the next six weeks,” Birol told the Associated Press.

“If we are not able to open the Strait of Hormuz … I can tell you soon we will hear the news that some of the flights from city A to city B might be canceled as a result of lack of jet fuel,” he addedThe IEA’s April report said Europe could start seeing physical shortages of jet fuel by June, even if the region can replace half of the supplies it normally gets from the Middle East.The continent has the highest dependence on jet fuel from the Middle East, with the region supplying nearly 375,000 bpd, or 75%, of Europe’s net jet fuel imports, according to the IAE.“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,” Birol said.“And the longer it goes, the worse it will be for the economic growth and inflation around the world,” he added.Birol’s warning comes just a week after ACI Europe, which represents airports across the continent, suggested that Europe had only three weeks before it faced a serious fuel shortage.

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The fuel shortage is a direct result of Iran sealing off access to the Strait of Hormuz, a critical chokepoint t...