
Europe has "probably about six more weeks of jet fuel reserves," the head of the International Energy Agency said Thursday in a wide-ranging interview with The Associated Press, warning of possible flight cancellations "soon" if oil supplies remain blocked by the war with Iran.
IEA Executive Director Fatih Birol presented a disturbing picture of the global consequences of what he called “the greatest energy crisis we have ever experienced,” stemming from the disruption of oil, gas and other vital supplies through the Strait of Hormuz.
The impact will be "increasing gasoline prices, increasing gas prices, high electricity prices," Birol told the AP.
The economic pain will be felt unevenly, with some countries "hit harder than others," he said, citing Japan, Korea, India, China, Pakistan and Bangladesh as on the front lines of the energy crisis.
If the Strait of Hormuz is not reopened, he said, for Europe "I can tell you that very soon we will hear news that some of the flights from city A to city B may be canceled as a result of a lack of jet fuel."