"ACI Europe has warned that if maritime flows through the Strait of Hormuz fail to recover significantly and stably within three weeks, a systemic jet fuel shortage could emerge across the European Union."
"Jet fuel prices in north-west Europe have more than doubled to around $1,573 per tonne, compared to pre-crisis levels of roughly $750, according to Argus Media."
"While airlines currently report adequate stocks, fuel suppliers have warned that forward deliveries cannot be guaranteed beyond April, raising concerns over supply continuity heading into the peak summer travel season."
"Delta Air Lines has already moved to trim capacity by 3.5 percent, while warning of an additional $2 billion in fuel costs over the next quarter."
ACI Europe warns of potential jet fuel shortages in European airports within three weeks if shipping through the Strait of Hormuz does not stabilize. The organization expressed concerns over fuel availability and urged the EU to monitor supplies. Jet fuel prices have surged due to global energy market volatility, with current prices exceeding $1,573 per tonne. Airlines report adequate stocks, but suppliers cannot guarantee future deliveries, raising concerns for the summer travel season. ACI Europe criticized the lack of a unified tracking system for jet fuel inventories.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]