Threat of grounded planes nears as jet fuel supplies dwindle

PARIS, April 18 ------ Could planes soon be stuck on the ground due to a lack of fuel? The risk of jet fuel shortages is growing each day the Strait of Hormuz remains closed, although it is uncertain when exactly supplies will run out.

The risk of shortages is greatest in Asia, and to a lesser extent, Europe, as they both rely on oil from the Gulf and its refineries for their supplies. "The situation can, within the next three to four weeks, become systemic," Rystad Energy economist Claudio Galimberti said on US financial news channel CNBC on Tuesday (Apr 14) about jet fuel shortages. "So you can have severe cuts of flights in Europe, already starting in May and June," he warned.

Source: channelnewsasia.com