Jet Fuel Crisis: Europe's 6-Week Supply

0:00It's April 16th. This is Europe News Today, AI-powered stories shaping Europe. I'm Cory with the story. The head of the International Energy Agency, Fata G. Barol, just dropped a major warning. Europe is down to about six weeks of jet fuel supplies because of the Middle East conflict with Iran blocking tankers through the strait of Hormuz. If oil keeps getting choked off, we could see flight cancellations hitting soon. Barol called this the biggest energy crisis the world has ever faced, straight up comparing it to a dire strait that slamming the global economy. The longer this drags, the worse it gets for growth and inflation everywhere. Asia is taking the first hits. Countries like Japan, India, and China rely heavy on Middle East energy. But Europe and the Americas won't dodge it. No nation is safe, richer poor, and over 110 oil tankers, plus 15 liquefied natural gas carriers, are stuck in the Persian Gulf. But that's not enough to fix things.

1:00Meanwhile, EasyJet CEO says their airports are running smooth, with fuel visibility out to mid-May, and no real worries yet. Still, the war is sparking uncertainty on cost and demand, with bookings down 2% for summer and fall compared to last year. Keep an eye on those skies, folks. This standoff could ground more than just plans if the strait doesn't clear up fast.