Europe's Looming Jet Fuel Crisis

IEA chief Fatih Birol stated that the global energy shock from the Iran war has left jet fuel stocks at critical lows across the continent.

Prices for aviation fuel have nearly doubled since the conflict began, forcing airlines to implement emergency surcharges and reduce long-haul schedules.

The European Commission is currently drafting a fuel-sharing plan to mitigate the impact on the summer travel season.

Experts warn that without a permanent reopening of Gulf shipping lanes, the aviation industry faces an 'existential crisis' by late May.