"Transport Commissioner Apostolos Tzitzikostas stated that despite the pressure on jet fuel supplies in the EU, there is no evidence of actual shortages and widespread flight cancellations are not expected over the summer."
"Fatih Birol, head of the International Energy Agency, warned that Europe may have only six weeks of jet fuel left, indicating possible flight cancellations if oil supplies remain halted due to the conflict."
"Tzitzikostas acknowledged that while some carriers had cancelled flights, it was due to high fuel costs rather than a lack of supply, emphasizing that the market is responding to the pressure."
The blockade of the Strait of Hormuz is raising concerns in Europe regarding jet fuel supplies. The EU is contemplating imports from the US and new reserve quotas. Despite pressure on supplies, there are currently no actual shortages, and widespread flight cancellations are not anticipated. The EU imports a significant portion of its jet fuel, primarily from the Middle East. Emergency stocks exist but will only be released if necessary. The market is currently managing the situation without evidence of bottlenecks.
Read at www.aljazeera.com
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