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.
No AI analysis yet. Tap the "AI Analysis" button above to generate one now.
Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
24H Trending
-
1
The 10-year U.S. Treasury yield is down approximately 8 basis points from its previous close, currently at 4.96%.
-
2
Google and Microsoft's Q3 capital expenditure falls short of estimates, raising concerns about AI build-out costs and delays
-
3
Report: Hedge Funds Exit Bitcoin ETF Arbitrage Trades, Sovereign Wealth Funds and Retail Investors Step In
-
4
New ECB staff estimates show bond yield rise cutting 2027-28 growth by a cumulative 100 BPS and inflation by 90 BPS vs Sept baseline.
-
5
Iranian President Pezeshkian stated that Iran is ready to expand cooperation with Turkey to serve common interests and enhance regional security.
-
6
Event prediction platform Kalshi completes $1 billion funding round, reaching a valuation of $40 billion, with non-sports revenue run rate exceeding $1 billion.
-
7
Israel continues its attacks on Gaza, with the Gaza Ministry of Health stating that dozens have died while awaiting permission to leave, renewing calls to open the Rafah crossing.
-
8
DBS Hong Kong to launch DBS Vantage Card, Hong Kong's first Visa Infinite Privilege Card
-
9
Unlimit founder backs Phase blockchain with $45M as mainnet launches
-
10
onXRP Team to Launch New Trading Method on XRP Ledger Next Week
Markets Today
Recommended Reading


