Europe may have only about six weeks’ worth of jet fuel remaining, according to the head of the International Energy Agency, who warned in an Associated Press interview that flight disruptions could begin soon if oil supplies continue to be blocked by the conflict involving Iran.
International Energy Agency (IEA) Executive Director Fatih Birol described the situation as potentially the most severe energy crisis in history, driven by the disruption of oil, gas, and other crucial resources passing through the Strait of Hormuz.
He said the consequences will include rising gasoline, and electricity prices.
Birol emphasized that the economic impact will not be evenly distributed. Developing nations—particularly in parts of Asia, Africa, and Latin America—are likely to be hit hardest, despite having less global influence.
Still, he cautioned that no country will be spared. While some nations may be wealthier or better supplied with energy, all will feel the effects of the crisis.
If the Strait of Hormuz remains closed, certain oil products could become scarce. Birol noted that over 110 oil tankers and more than 15 liquefied natural gas carriers are currently stuck in the Persian Gulf and could help ease shortages if allowed to pass through—but even that would not fully resolve the situation.
