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Europe has ‘maybe 6 weeks of jet fuel left,’ energy agency head tells AP
Fatih Birol warned that blocked supplies could trigger cancellations soon and push fuel prices higher, with Europe holding about 6 weeks of jet fuel left.
- On Thursday, IEA Executive Director Fatih Birol warned that Europe has "maybe 6 weeks or so jet fuel left," cautioning that flight cancellations are likely if oil supplies remain blocked near the Strait of Hormuz.
- Birol described the supply disruption as "the largest energy crisis we have ever faced," stemming from the blockage of oil and gas through the Strait of Hormuz carrying major global economic implications.
- The crisis will cause "higher petrol prices, higher gas prices, high electricity prices," with some world regions "hit worse than the others" as Asian countries serve as the immediate front line.
- Japan, Korea, India, China, Pakistan, and Bangladesh face the initial impact, but energy pressures will eventually spread to Europe and the Americas, according to the International Energy Agency chief speaking from Paris.
- Prolonged supply issues will worsen global inflation and impede economic growth, creating what Birol calls a "Dire Straits," with significant long-term consequences for the world economy.
275 Articles
275 Articles
Europe Discovered Too Late That It, Too, Can Run Out of Jet Fuel
The warning came first from outside Brussels. The head of the International Energy Agency, Fatih Birol, said this week that Europe has “perhaps six weeks” of aviation jet fuel reserves left if the Strait of Hormuz remains blocked. Shortly afterwards, the European Commission itself, which had spent days insisting there was no immediate problem, acknowledged that aviation fuel has become “the main concern.” The sequence looks all too familiar from…
IEA Chief warns of kerosene scarcity and flight failures in Europe within six weeks.
Airlines adjust as Europe's jet fuel supply shrinks
ALBAWABA - According to the International Energy Agency, Europe may only have a short window of jet fuel supply left since continuous interruptions to international energy channels continue to have an impact on markets...
One third of kerosene imports from the Gulf expire in April, while US deliveries prevent worse. Airlines in Europe are preparing emergency plans.
Europe Only Has Six Weeks’ of Jet Fuel Left, Says Energy Chief
Europe only has about a six-week supply of jet fuel left before shortages caused by the Iran war will force airlines to begin cancelling more flights, the chief of the International Energy Agency has said. Fatih Birol, the global energy watchdog’s executive director, said the situation was “dire” and would bring increasing disruptions unless oil supplies from the Middle East are restored soon. “In Europe, we have maybe six weeks or so [of] je…
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