IEA Warns: Europe's Aviation Fuel Stocks Only Enough for 6 Weeks, Some Flight Cancellations Imminent

According to the Associated Press, Fatih Birol, the Executive Director of the International Energy Agency (IEA), stated in an interview on Thursday that Europe's aviation fuel supply "may only have about 6 weeks left" and warned that if oil supplies continue to be disrupted due to the Iran conflict, flight cancellations could occur "soon." He described the Strait of Hormuz crisis as "the biggest energy crisis in history." Birol said: "There used to be a band called 'Dire Straits.' Now this has become a real 'dire straits,' which will have a significant impact on the global economy. The longer this situation persists, the greater the negative impact on global economic growth and inflation." Birol stated that this will drive up prices for gasoline, natural gas, and electricity, with countries reliant on Middle Eastern energy—including Japan, South Korea, India, Pakistan, and Bangladesh—bearing the brunt first, before spreading to Europe and the United States. If the strait does not reopen, some flights in Europe may be canceled due to fuel shortages.