EU sees ‘no jet fuel shortage amid price surge’

BRUSSELS, June 5 (Reuters): There are no signs of jet fuel shortages in Europe in the coming months despite the energy shock from the Iran War, though high prices are prompting airlines to cut uneconomic routes, the European Union's transport chief told Reuters.

The Strait of Hormuz, a key shipping lane linking the Gulf to global markets, has been largely shut for the past three months, cutting oil supplies by about 14 million barrels per day, or around 14 per cent of global demand.

The EU has so far weathered the disruption as the Middle East accounts for about 20 per cent of its jet fuel imports, with US and Nigerian supplies largely filling the gap.

"There is currently no jet fuel shortage in Europe. We have no signs that we will have a shortage in the coming period," transport commissioner Apostolos Tzitzikostas said in an interview, adding regional airports were most at risk.