The Executive Director of the International Energy Agency (IEA), Fatih Birol, has warned that Europe's aviation fuel reserves are critically low, posing a significant risk to global air travel.
Operative Information Center-OMM reports that in an interview with the Associated Press, Birol stated that Europe currently holds only enough jet fuel to last for approximately "six weeks." He cautioned that any further disruption in oil supplies could lead to widespread flight cancellations in the near future.
Birol emphasized that any interruption in the transport of oil, gas, and other vital commodities through the Strait of Hormuz would have a profound impact on the global economy. "The longer this situation persists, the greater the impact on economic growth and inflation will be," he noted. According to the IEA head, price hikes for gasoline, gas, and electricity are becoming inevitable, with the energy crisis expected to hit countries like Japan, South Korea, India, China, Pakistan, and Bangladesh particularly hard. He added that while impoverished nations in Asia, Africa, and Latin America will suffer the most immediate damage, the consequences will eventually destabilize markets across Europe and the Americas.
The current instability follows an escalation of tensions in the region linked to US-Israel military operations. Shipping through the Strait of Hormuz has decreased significantly as Iran imposes restrictions on vessels from certain nations. Although a two-week ceasefire has been declared between relevant parties, the US blockade on Iranian ports remains in effect. The Strait of Hormuz is considered the world's most important oil transit chokepoint, with approximately one-fifth of the world's total oil consumption passing through the waterway daily, making its security vital for global energy stability.
