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European airports could face 'systemic' fuel shortages if the Strait of Hormuz remains closed beyond the next three weeks.
European airports could face systemic jet fuel shortages if the Strait of Hormuz stays closed three weeks.
KEY POINTS
- Jet fuel suppliers cannot guarantee deliveries to European airports beyond May if disruptions persist.
- European jet fuel prices hit a record $1,900 per metric ton this week due to supply concerns.
- Four Italian airports imposed jet fuel restrictions last weekend, and Air New Zealand canceled flights.
COMPANIES
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