Commercial jet fuel supplies are expected to face challenges this summer, according to EU Energy Commissioner Dan Jorgensen. Despite the recent increase in traffic through the Strait of Hormuz, a key route for global oil and gas exports, concerns linger about the availability of jet fuel.
The uptick in maritime activity in the strait since June 15, following a preliminary agreement between Iran and the US to ease tensions, has not yet translated into immediate relief for energy markets. Jorgensen highlighted that while traffic is picking up, the recovery of oil markets may take several months, and gas markets could take even longer due to infrastructure damages in the region.
The disruption in Gulf exports led to jet fuel shortages in Asia, raising worries about potential deficits in Europe during the busy summer travel season. Jorgensen warned of a probable worsening of the situation with commercial jet fuel stocks by the end of summer, necessitating EU nations to consider releasing reserves to prevent shortages. Monitoring the supply situation closely, officials are prepared to take action to ensure adequate jet fuel availability.
