Europe Faces Potential Jet Fuel Shortage Within Six Weeks, Warns Energy Chief

International Energy Agency Executive Director Fatih Birol warned Thursday that Europe could run low on jet fuel in about six weeks. He made the remark during a Filmogaz.com interview from his Paris office, which overlooks the Eiffel Tower.

Immediate risk to flights and supplies

Birol said disruptions in oil flows through the Strait of Hormuz are already tightening fuel stocks. He warned that a jet fuel shortage within six weeks could force airlines to cancel flights.

Scope of the crisis

The IEA chief described the situation as the largest energy crisis in recent memory. He said the shutdown of oil and gas shipments through the Strait of Hormuz is at the heart of the problem.

Price and economic effects

Higher petrol, natural gas, and electricity prices are already likely. Birol added prolonged disruption would hurt growth and push inflation higher worldwide.

Which countries are most exposed

He identified Japan, South Korea, India, China, Pakistan and Bangladesh as front-line victims. He said poorer nations in Asia, Africa and Latin America would suffer most.

Geopolitical dangers and maritime precedent

Birol criticized Iran’s use of a so-called toll booth system to allow passage for a fee. He warned that normalizing such charges could set a dangerous precedent for other sea lanes.

He cited the Malacca Strait as an example of another strategic waterway that could be affected. Birol said changing maritime norms would be hard to reverse.

Call for unrestricted flows

The IEA head urged that oil move unconditionally from producer to consumer. He argued that restoring free passage is essential to prevent cascading economic damage.