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U.S. began naval blockade of ships entering and leaving Iranian ports in Strait of Hormuz.
Europe faces a systemic jet fuel shortage within weeks if the Strait of Hormuz remains blocked.
KEY POINTS
- The U.S. naval blockade of Iranian ports has halted Middle East jet fuel supplies to Europe.
- Jet fuel prices soared 103% month-on-month in March, severely impacting airline operations.
- European airlines like SAS and Ryanair are already cancelling flights and raising ticket prices.
- Industry experts warn that some disruption to global energy prices will persist regardless of Gulf developments.
COMPANIES
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