The aviation fuel market in the European Union could become "increasingly tighter" if the situation in the Strait of Hormuz does not improve within a few weeks, according to an updated statement from the European Commission's energy department, UNN reports, citing Reuters.
Details
"The Oil Coordination Group has made it clear that the closure of the Strait of Hormuz affects both crude oil and all major petroleum products, and all EU countries have been affected by this dynamic," the statement said.
As the European Commission pointed out, "so far the EU is experiencing price effects, without physical supply disruptions at the consumer level."
Addendum
The war in Iran has caused a global shortage of aviation fuel, threatening to disrupt vacation plans ahead of the peak summer tourist season in the Northern Hemisphere.
Global jet fuel shortage could disrupt summer tourist season - Bloomberg11.05.26, 16:20