IEA Warns Europe Has Six Weeks of Jet Fuel Remaining Due to Strait of Hormuz Blockade
By
ck2
Kettled twice. Extra chewy, extra trustworthy.
Summary
The head of the International Energy Agency warns that Europe has only about six weeks of jet fuel supplies remaining due to blocked oil shipments through the Strait of Hormuz caused by the Iran war. IEA Executive Director Fatih Birol describes this as the largest energy crisis ever faced, with potential flight cancellations soon and global repercussions including higher gasoline, natural gas, and electricity prices worldwide. The crisis affects Asia first, then Europe and the Americas.
Key quotes
· 4 pulledEurope has 'maybe six weeks or so' of remaining jet fuel supplies
warning of possible flight cancellations 'soon' if oil supplies remain blocked by the Iran war
the largest energy crisis we have ever faced
stemming from the pinch-off of oil, gas and other vital supplies through the Strait of Hormuz
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