Hormuz Crisis Triggers Jet Fuel Shortage Warning Across Europe
The Financial Times, citing a letter from Airports Council International Europe (ACI Europe) addressed to European Commission officials, revealed that the industry body has sounded the alarm over rapidly depleting jet fuel reserves across the continent's aviation sector.
In its letter, ACI Europe cautioned that airports across the region risk facing a "systemic shortage" of jet fuel unless trade through the Strait of Hormuz returns to normal within three weeks.
The warning comes in the wake of the US-Israel-Iran war, which erupted on Feb. 28 and triggered severe disruptions to maritime traffic through the strategic chokepoint — a corridor through which approximately 15 million barrels per day of crude oil and 5 million barrels per day of refined petroleum products ordinarily flow.
The resulting supply crunch has sent jet fuel prices in Europe to historic highs, more than doubling from pre-war levels. Data from the International Air Transport Association (IATA) shows the global jet fuel index surged 110%, climbing from $99.4 per barrel on Feb. 27 to $209 per barrel by April 3. The cost, insurance, and freight (CIF) price of jet fuel in Northwest Europe has similarly spiked to $216.9 per barrel.
Figures compiled by media from S&P Global Commodity Insights paint a stark picture of regional dependency: the Middle East currently supplies roughly 177,000 barrels per day of jet fuel to Northwest Europe, 31,000 barrels to Southern Europe and the Eastern Mediterranean, 100,000 barrels to Africa, and 17,000 barrels to Asia. An additional 34,000 barrels from the region transit the Suez Canal into the Red Sea, with the bulk destined for Egypt.
Europe, given its heavy reliance on Gulf-sourced jet fuel, ranks among the regions most exposed to a sustained supply disruption. The consequences are already materializing on the ground — airports in Italy have begun imposing fuel restrictions, and multiple airlines have flagged that summer flight operations across the continent may be jeopardized should the conflict persist.
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