Europe has 'maybe 6 weeks of jet fuel left'

Europe may face serious fuel shortages, with "maybe 6 weeks of jet fuel left," according to IEA Executive Director Fatih Birol. He warned of potential flight cancellations due to the escalating energy crisis linked to the Iran war and blockages in oil supplies through the Strait of Hormuz.

Birol described this as "the largest energy crisis we have ever faced," affecting global economic growth and increasing inflation. Highest impacts will hit Asian countries relying on Middle Eastern energy, while Europe and the Americas will follow. He cautioned that if the Strait isn’t reopened, flight cancellations could occur.