EU eyes options as Iran conflict threatens jet fuel shortages
The European Union is considering alternative jet fuel sources and implementing minimum reserve quotas amid concerns over a potential supply crunch due to the Iran conflict. The EU imports 30-40% of its jet fuel needs from the Middle East, with the Strait of Hormuz being a critical passage for global oil supplies. Despite mounting pressure on jet fuel supplies, there is currently no evidence of actual shortages, and widespread flight cancellations are not expected over the summer. Transport Commissioner Apostolos Tzitzikostas stated that stocks are "under pressure" in some parts of Europe but emphasized that the EU has emergency stocks available to be released if necessary. The EU will provide guidance on passenger rights and public service obligations in the event of jet fuel shortages. Airlines have already cancelled flights due to high fuel costs, not a lack of supply.