EU Prepares Jet Fuel Contingency Amid Hormuz Crisis

European Union transport officials are preparing contingency measures to avert potential jet fuel shortages across the continent, triggered by ongoing disruptions in the Strait of Hormuz amid the conflict in Iran. The strait, through which about 20 percent of the world's oil supply passes daily, has seen restricted traffic since the escalation of hostilities, causing jet fuel prices to more than double since the war began.

EU Transport Commissioner Apostolos Tzitzikostas stated on Tuesday that there are no signs of actual shortages at present, though stocks face pressure in some areas. Speaking after a meeting of EU transport ministers, he emphasized the need for readiness. "If real supply issues arise, our emergency stocks must be put to best use," Tzitzikostas said. He noted that while sharing reserves remains voluntary for now, it could become mandatory if conditions worsen, with any national releases requiring full transparency to prevent market distortions.

The disruptions stem from the effective closure of the strait following attacks on vessels and safety concerns in the Persian Gulf. Approximately 15 to 20 percent of the EU's jet fuel typically comes from Middle East...