IEA Warns of Jet Fuel Shortage in Europe Amid Strait of Hormuz Blockade
The International Energy Agency (IEA) has warned that Europe may face a jet fuel shortage within six weeks due to the ongoing blockade of the Strait of Hormuz by Iran. The closure has led to significant disruptions in oil supply, resulting in what the IEA describes as the largest energy crisis ever faced. The situation is expected to lead to higher petrol, gas, and electricity prices, with emerging economies particularly vulnerable to the economic impact. The IEA's Executive Director, Fatih Birol, emphasized the potential for flight cancellations and broader economic repercussions if the blockade continues. 
