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Strait of Hormuz closure triggers global jet fuel shortages
OilPrice says the corridor typically carries about 20.0% of the world’s oil when fully operational, and several European airlines warned in July they risked running out of jet fuel.
OilPrice reports that the months-long closure of the Strait of Hormuz has contributed to severe fuel shortages worldwide, complicating efforts by companies to keep operations running. Airlines in particular are struggling to secure enough jet fuel to maintain regular flight schedules, the outlet says.
The outlet links the disruption to the U.S.-Israeli war on Iran and describes the Strait of Hormuz as a key trade corridor connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea. When fully operational, it transports roughly 20.0% of the world’s oil, according to OilPrice.
OilPrice adds that repeated closures have imposed restrictions on energy trade, leaving some countries facing acute fuel shortfalls. In July, several European airlines announced they were at risk of running out of jet fuel, and Europe has leaned on alternative imports from the United States and Asia.
OilPrice notes that the United Kingdom, France, and Germany are especially exposed because of their heavy reliance on Middle East fuel supplies. It also points to reduced refining activity in favor of a green transition, which has left the region more vulnerable to supply chain disruptions, while saying Iran has allowed only limited fuel supplies through the strait.