IEA warns Europe has ‘6 weeks’ of jet fuel

International Energy Agency (IEA) Executive Director Fatih Birol said on Thursday, Europe has “maybe 6 weeks or so” of jet fuel left if supplies through the Strait of Hormuz remain blocked, warning that flight cancellations could come soon. “In the past, there was a group called ‘Dire Straits.’ It’s a dire strait now, and it is going to have major implications for the global economy. And the longer it goes, the worse it will be for the economic growth and inflation around the world,” Birol said in an interview with The Associated Press.  The comment also comes amid broader concern about real shortages in physical fuel supplies. If disruptions through the Strait of Hormuz continue, the impact could spread beyond aviation to transport, energy costs, and the broader economy.

NN: Typical EURO screw up. Run out as jet fuel as summer vacations season gets started.