EU warns of jet fuel shortage if Hormuz situation continues without improvement

The European Commission said, today Thursday, that the EU jet fuel market could see a greater supply shortage if the situation in the Strait of Hormuz does not improve within weeks.

The European Commission's energy department issued an updated statement Thursday following the latest meetings of the oil and gas coordination groups, noting that the closure of the Strait of Hormuz is affecting crude oil and all major petroleum products, and that all EU member states are being impacted by these conditions.

The statement clarified that the EU is currently experiencing price impacts without any actual supply disruptions at the consumer level, but warned that if the situation does not improve in the coming weeks, markets are expected to see reduced supply, particularly for jet fuel.