IEA warns: European aviation fuel stocks only last for 6 weeks, some flights may be cancelled.

According to the Associated Press, International Energy Agency (IEA) Executive Director Fatih Birol said in an interview on Thursday that Europe's aviation fuel supply "may only last about six weeks," and warned that flight cancellations could "soon" occur if oil supplies continue to be disrupted due to the war with Iran. He called the Strait of Hormuz crisis "the biggest energy crisis in history." Birol said, "There used to be a band called 'Terror Strait.' Now it's a real 'Terror Strait,' which will have a significant impact on the global economy. The longer this situation lasts, the greater the negative impact on global economic growth and inflation." Birol stated that this will drive up gasoline, natural gas, and electricity prices, with countries reliant on Middle Eastern energy sources, including Japan, South Korea, India, Pakistan, and Bangladesh, bearing the brunt, before spreading to Europe and the United States. If the strait does not reopen, some European flights may be canceled due to fuel shortages.