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World Economy
Apr 10, 2026

Europe Faces Imminent Jet Fuel Shortage as Hormuz Blockade Persists, Threatening Summer Travel

AI Summary
European airports warn that a prolonged closure of the Strait of Hormuz could trigger a systemic jet‑fuel shortage within three weeks, driving prices up sharply, prompting airlines to cut flights and raise fares, and risking severe disruption to the summer travel season.

European airports have issued an urgent warning that jet fuel shortages could materialise within the next three weeks if the Strait of Hormuz remains closed.

Airports Council International (ACI) Europe addressed a letter to EU transport commissioner Apostolos Tzitzikostas, stating the bloc is only three weeks away from a systemic shortage.

The threat is linked to the ongoing US‑Israel conflict with Iran, which has effectively shut the strait—a key shipping lane for Gulf oil exports—pushing Brent crude to around $96 per barrel, up from roughly $72 before the hostilities.

ACI warned that without a stable resumption of traffic through Hormuz within three weeks, a “systemic jet fuel shortage is set to become a reality for the EU.”

Jet‑fuel prices have more than doubled year‑on‑year, reaching $1,650 per tonne according to IATA data. Europe’s price surge stands at 138%, while Asia has seen a 163% increase.

Ryanair chief Michael O’Leary highlighted that the United Kingdom, heavily dependent on Kuwaiti supplies, is the most vulnerable market in Europe.

Shipping data from Vortexa shows the last Gulf‑origin jet fuel cargo for Europe is due in Copenhagen tomorrow, following a partial delivery to Rotterdam earlier this week. The final tanker bound for the UK arrived in Kent on Tuesday.

More than 60% of Europe’s jet fuel traditionally comes from Gulf refineries, with over 40% shipped via the Hormuz corridor. The blockade forces European buyers into direct competition with Asian carriers for alternative cargoes.

Australian investment bank Macquarie notes that jet fuel lacks the pipeline alternatives available to crude oil, making the market especially vulnerable. Even if shipments resume, the refined‑product market could take two to three months to normalise, lagging behind crude markets.

Airlines have already begun trimming schedules and raising fares, a trend that will feed into broader inflationary pressures. A genuine shortage could force travelers and businesses to postpone trips and shipments, deepening economic damage.

ACI called for proactive EU monitoring and action, warning that the peak summer travel season—critical to many economies—could be hit hard if fuel supplies falter.

IATA director‑general Willie Walsh cautioned that even with the strait reopened, restoring adequate supply will take months due to disrupted refining capacity in the Middle East. IATA had previously projected a 4.9% year‑on‑year growth in passenger traffic for 2026.