There are no signs of jet fuel shortages in Europe in the coming months despite the energy shock from the Iran war, though high prices are prompting airlines to cut uneconomic routes, the European Union's transport chief said on Friday.
The Strait of Hormuz, a key shipping lane linking the Gulf to global markets, has been largely shut for the past three months, cutting oil supplies by about 14 million barrels per day, or around 14% of global demand.
The EU has so far weathered the disruption as the Middle East accounts for about 20% of its jet fuel imports, with U.S. and Nigerian supplies largely filling the gap.
Some routes cut, higher fares possible
"There is currently no jet fuel shortage in Europe. We have no signs that we will have a shortage in the coming period," Sustainable Transport and Tourism Commissioner Apostolos Tzitzikostas told Reuters, adding regional airports were most at risk.
