Europe Faces Critical Jet Fuel Shortage

The head of the International Energy Agency, Fatih Birol, has issued a dire warning regarding Europe's aviation fuel supplies, which have been severely impacted by the ongoing war in Iran.

With the Strait of Hormuz effectively blocked, the continent is facing a systemic shortage that could ground hundreds of flights within six weeks.

Airlines are already adjusting schedules and increasing ticket prices to compensate for the doubling of jet fuel costs this year.

This energy shock is expected to have major implications for global inflation and economic growth, particularly in developing nations.