EU Sees No Jet Fuel Shortage Despite 14 Million Bpd Hormuz Hit as Prices Force Route Cuts
Updated
Updated · Reuters · Jun 5
EU Sees No Jet Fuel Shortage Despite 14 Million Bpd Hormuz Hit as Prices Force Route Cuts
3 articles · Updated · Reuters · Jun 5
Summary
Europe faces no jet fuel shortage in the coming months, EU transport chief Apostolos Tzitzikostas said, even after the Strait of Hormuz disruption removed about 14 million barrels a day of oil supply.
U.S. and Nigerian shipments have largely replaced lost Middle Eastern volumes, which normally account for about 20% of EU jet fuel imports, leaving regional airports the most exposed to any local supply strains.
Higher fuel costs are already pushing airlines to cancel uneconomic routes, and passengers may see fare increases later this year or next as fuel hedges expire; jet fuel makes up 25-30% of airline operating costs.
Brent is expected to average about $90 a barrel this year, up 40% from February, and Tzitzikostas said the outlook would become "very difficult" by year-end if Hormuz stays shut.
EU member states still hold emergency fuel stocks and see no need to redistribute reserves for now, but the commissioner warned a prolonged Iran conflict could spill beyond aviation and tip the global economy toward recession.
The EU claims fuel stability, but is a massive physical shortage crisis just weeks away from hitting Europe?
With oil prices projected to hit $200, is a global recession now inevitable due to the Hormuz crisis?
As U.S.-Iran talks fail, what are the next steps to reopen the world's most critical energy waterway?
Europe’s Jet Fuel Crisis: How the 2026 Strait of Hormuz Blockade Disrupted 25% of Global Oil Flows and Threatens Summer Travel
Overview
In early 2026, a war involving the United States, Israel, and Iran led to Iran attacking merchant vessels and blocking the Strait of Hormuz. This blockade caused a severe and immediate crisis in global energy markets, sharply limiting the availability of crude oil. The resulting geopolitical tension triggered a surge in oil prices and had a profound impact on global energy supplies, with Europe being especially vulnerable. As the crisis unfolded, Europe faced rising fuel costs, supply shortages, and significant disruptions to aviation and economic stability, highlighting the continent’s dependence on Persian Gulf energy flows.