IEA Warning: Europe's Aviation Fuel Reserves Will Last Only 6 Weeks; Some Flights Set to Be Canceled
Svmuu News: According to a report by the Associated Press, IEA Executive Director Fatih Birol said in an interview on Thursday that Europe’s jet fuel supplies “may only last about six weeks,” and warned that flight cancellations could occur “very soon” if oil supplies continue to be disrupted by the war in Iran. He described the crisis in the Strait of Hormuz as “the biggest energy crisis in history.” Birol said, “There used to be a band called ‘Strait of Terror.’ Now it has become a real ‘Strait of Terror’ that will have a major impact on the global economy. The longer this situation persists, the greater the negative impact on global economic growth and inflation.” ” Birol noted that this would drive up prices for gasoline, natural gas, and electricity, with countries dependent on Middle Eastern energy—including Japan, South Korea, India, Pakistan, and Bangladesh—bearing the brunt of the impact, followed by Europe and the United States. If the Strait remains closed, some flights in Europe may be canceled due to fuel shortages.
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