"Fatih Birol, executive director of the International Energy Agency, stated that Europe may have as little as six weeks' worth of jet fuel remaining if current supply constraints persist. He described this as the 'largest energy crisis we have ever faced.'"
"Birol cautioned that continued disruption to tanker traffic through the Strait of Hormuz could trigger an unprecedented energy shock, with aviation being among the first sectors to feel the impact."
"He noted that while Asian economies are currently on the 'front line' of the disruption, pressure would rapidly spread to Europe and the Americas, leading to potential flight cancellations."
"Despite the warnings, easyJet's chief executive stated that all airports served by the airline are currently 'operating as normal,' indicating that immediate disruption has yet to materialize."
The head of the International Energy Agency warned that Europe could experience significant flight disruptions within weeks due to tightening jet fuel supplies. Current supply constraints, particularly related to the conflict involving Iran, may leave Europe with only six weeks of jet fuel. The Strait of Hormuz's disruption could lead to an unprecedented energy shock, affecting aviation first. While easyJet reports normal operations, concerns remain about the potential for flight cancellations if supplies are not restored.
Read at London Business News | Londonlovesbusiness.com
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