EU Transport Chief Sees No Jet Fuel Shortage Despite Hormuz Blockade
Apostolos Tzitzikostas said that though there had been a spike in prices, there was no risk of a lack of availability for the time being.
TL;DR
- No signs of jet fuel shortages are expected in Europe in the coming months.
- High jet fuel prices are prompting airlines to cut uneconomic routes.
- The Strait of Hormuz remains largely cut off, slashing oil supplies.
- The EU has covered missing Middle Eastern oil with shipments from the U.S. and Nigeria.
- Middle Eastern oil accounts for about a fifth of the EU's jet fuel imports.