The picture is "alarming," and barring international developments, the outlook remains uncertain. Europe has "perhaps enough jet fuel to last about six weeks." Fatih Birol, head of the International Energy Agency, sounded the alarm in an interview with the Associated Press: without a resumption of oil supplies, blocked by the war with Iran , flight cancellations could occur "soon."
Birol speaks openly of the " greatest energy crisis ever faced ," triggered by the halt in the flow of oil, gas, and other raw materials through the Strait of Hormuz, a crucial hub for global energy balances.
The Gulf passage remains closed, and oil and gas prices continue to rise. The crisis is global, but the most critical issue concerns jet fuel . According to Gianni Murano, president of Unem, the association of fuel producers and distributors , "supplies are guaranteed for April and May." "Oil should be available, even with the Strait of Hormuz closed, and domestic production of refined products is sufficient to cover demand. There are no problems for diesel and fuel oil for ships," Murano assures. "The problem, if anything, will be the price, first of oil and then of refined products."
Jet fuel, however, is a different story: "Half of the fuel consumed by the European Union and the United Kingdom—about 10 million tons—is refined in the Gulf. Replacing these supplies is complex." In recent years, Europe has closed 35 refineries and is no longer self-sufficient: it must import about 50% of its jet fuel.
(Unioneonline)
