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Europe Faces Critical Fuel Shortage
Europe is on the brink of a systemic energy crisis as the conflict in the Middle East continues to disrupt vital shipping lanes.
Fatih Birol, head of the International Energy Agency, stated that the continent has roughly six weeks of jet fuel reserves left.
He warned that cities could see mass flight cancellations as early as May if the Strait of Hormuz remains closed to tankers.
This shortage threatens to drive global inflation and plunge several economies into recession during the peak summer travel season.
Strait of Hormuz
Strait between the Gulf of Oman and the Persian Gulf
Strait between the Gulf of Oman and the Persian Gulf
Europe
Terrestrial continent located in north-western Eurasia
Terrestrial continent located in north-western Eurasia
Iran
Country in Western Asia
Country in Western Asia