India, April 17 -- Europe might run low on jet fuel in about "six weeks or so" if the disruptions in the Strait of Hormuz continue, warns Fatih Birol from the International Energy Agency. This could lead to flight cancellations and broader economic repercussions.
Birol pointed out that the ongoing conflict in Iran has sparked what he calls the "largest energy crisis" seen in recent history, with nearly 20 percent of the world's oil typically flowing through that strait.
If blockages last, airlines may have no choice but to reduce their routes because of fuel shortages, and rising kerosene prices are already putting pressure on carriers.
The crisis is likely to push petrol, gas, and electricity prices higher around the globe, with develop...