Europe's jet fuel availability falls below IEA shortage threshold in June
Updated
Updated · Fortune · May 6
Europe's jet fuel availability falls below IEA shortage threshold in June
13 articles · Updated · Fortune · May 6
Goldman Sachs says world oil supply will drop to 98 days of demand by end-May, with the UK most exposed to summer jet fuel rationing.
Analyst Yulia Zhestkova Grigsby warned usable oil stocks may cover only 30 to 40 days once minimum operating levels for pipelines, refineries and storage are considered.
The warning comes as Strait of Hormuz disruption persists despite reported pauses in US-Iran hostilities, leaving shipping constrained and raising wider risks for aviation and other fuel-dependent industries.
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Strait of Hormuz Blockade Cuts 175,000 Barrels/Day of Jet Fuel to Europe, Sparking Summer 2026 Air Travel Crisis
Overview
In early 2026, Iran's blockade of the Strait of Hormuz disrupted global oil flows, cutting off 75% of Europe's jet fuel imports from the Middle East and causing a persistent deficit of 175,000 barrels per day. Despite a surge in U.S. jet fuel exports, Europe faces soaring prices and critical shortages, forcing major airlines to cut flights and raise fares. This crisis threatens Europe's aviation sector, risks economic slowdown, and drives inflation. The EU has launched emergency measures to manage supplies, but structural weaknesses and the blockade's persistence mean the crisis may worsen, potentially accelerating energy reforms and impacting global trade and economies.