EU Transport Chief Reports Stable Jet Fuel Supplies
European Union transport commissioner Apostolos Tzitzikostas states that Europe currently faces no jet fuel shortages despite the closure of the Strait of Hormuz. While supply remains stable through US and Nigerian imports, rising prices are forcing airlines to cancel unprofitable routes.
Xurve View
Insights:
Xurve View
EU Transport Commissioner Apostolos Tzitzikostas confirmed Europe faces no immediate jet fuel shortages despite a 14 million barrel-per-day global supply cut. This supply disruption follows a three-month closure of the Strait of Hormuz, which has removed approximately 14% of global oil demand from the market. High fuel costs now force airlines to scrap unprofitable routes as energy prices consume up to 30% of operating budgets.
