Iran war could spark a global jet fuel crisis ahead of summer travel: Experts
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The ongoing war in Iran is threatening to cause a global jet fuel crisis ahead of the summer travel season, with Europe having only six weeks of jet fuel left. The crisis could have major implications for the global economy, with potential disruptions to air travel and increased inflation.
The war in Iran is choking off the global supply of oil and threatening to cause a global jet fuel crisis. The International Energy Agency (IEA) has warned that Europe has only six weeks of jet fuel left. The US Navy has established a blockade of Iranian ports to stop tankers linked to Iran from transporting oil through the Strait of Hormuz. The price of jet fuel has more than doubled since the war broke out, with some European airlines already cancelling flights due to high prices. Countries in Asia are also running low on jet fuel, with prices trading 25% higher than in Europe. The crisis could have major implications for the global economy, with potential disruptions to air travel and increased inflation.
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