Europe could face a significant shortage of jet fuel, naphtha, and fuel oil if the Strait of Hormuz remains closed for an extended period, according to a study by the Dutch bank Rabobank.
Operative Information Center-OMM reports, citing foreign media, that continued disruptions in shipping through the end of the year would lead to a substantial depletion of European Union fuel reserves and a steady increase in petroleum product prices. Analysts estimate that since disruptions began in the Strait of Hormuz, global oil supplies have decreased by 10.3 million barrels per day, while petroleum product supplies have dropped by 4.5 million barrels per day, representing approximately 14% of global demand.
The Strait of Hormuz is a critical maritime chokepoint between the Persian Gulf and the Gulf of Oman, through which approximately one-fifth of the world's total oil consumption passes daily. Any prolonged instability in this region historically triggers volatility in global energy markets, impacting not only fuel availability but also broader economic sectors such as tourism and agriculture. Currently, several Asian nations are already experiencing flight cancellations and supply chain interruptions due to kerosene shortages, highlighting the global scale of the potential crisis.
