11 aviation markets including the UK, Australia, Mexico, France and Germany emerged as most exposed to jet-fuel disruption after the Hormuz crisis, even as Gulf cargoes begin moving again.
The vulnerability stems from heavy import dependence, thin reserves and sizable demand: Bloomberg flagged net importers meeting more than 40% of demand from overseas, with less than eight weeks of cover and usage above 23,000 barrels a day.
Persian Gulf refineries had supplied about 20% of global jet-fuel and kerosene exports, and their disruption after the US-Israel attack on Iran left the market tight despite replacement barrels from the US and Nigeria.
Europe looks especially vulnerable because more than 50% of annual demand in the UK, France and Germany is imported, much of it from the Middle East; European jet-fuel prices have halved from an early-April peak but remain above historical averages.
The episode exposed a structural mismatch in aviation fuel supply chains for more than 100,000 daily flights, pushing Gulf producers to pursue routes that bypass Hormuz and importers to rethink stockpiles and sourcing.
The Hormuz blockade nearly grounded global aviation. Is this the end of cheap, globalized energy?
With the Hormuz crisis exposing deep vulnerabilities, can sustainable fuels truly secure our future travel?
Global Jet Fuel Crisis 2026: How the Strait of Hormuz Closure Halved Airline Profits and Reshaped Energy Security
Overview
The 2026 US–Iran conflict led to the closure of the Strait of Hormuz, a vital route for global oil and gas shipments. This triggered a profound imbalance in global markets, as oil and gas flows were disrupted and infrastructure was damaged. The resulting supply shock caused oil consumption to drop sharply, but the loss of supply was even greater, leading to soaring prices and severe shortages, especially for jet fuel. Airlines faced rising costs and falling profits, while governments and industries scrambled to secure alternative supplies and invest in new energy solutions, highlighting the urgent need for more resilient and diversified energy systems.