European Jet Fuel Shortage Looms

The closure of the Strait of Hormuz has decimated fuel flows to Europe and Asia, creating what experts call an 'existential crisis' for the aviation industry.

Lufthansa and KLM are among the latest airlines to axe international routes as kerosene prices soar to historic highs.

The European Union is reportedly preparing a jet fuel sharing mechanism to mitigate the impact on essential travel.

Analysts predict that even if peace is reached soon, it could take up to two years for regional energy output to fully recover.