European Airports Warn of Jet Fuel Shortages if Strait of Hormuz Remains Shut
An association of airports told European Union officials that fuel shipments through the Strait of Hormuz had to restart within three weeks to avoid a “systemic” shortage.
An association of airports told European Union officials that fuel shipments through the Strait of Hormuz had to restart within three weeks to avoid a “systemic” shortage.
The war with Iran is preventing huge amounts of oil from flowing out of the Persian Gulf, but the prices that many people track don’t fully capture the scale of the disruption.
Europeans and Iran warned that the Israeli offensive against Hezbollah threatened the truce in the U.S.-Israeli war against Iran.
The first day of a tentative cease-fire had the region on edge.
Analysts said oil and natural gas energy companies would not quickly restore production unless attacks stopped and ships started moving through the Strait of Hormuz.
A handful of vessels have crossed the crucial waterway since the U.S.-Iran truce began, but shipowners, insurers and others are wary of safe passage.
A handful of vessels have crossed the crucial waterway since the U.S.-Iran truce began, but shipowners, insurers and others are wary of safe passage.
Beijing appeared to have helped push Tehran to accept the two-week deal with the United States, reflecting China’s growing influence and its stake in avoiding a wider war.
The countries will have to re-evaluate their relationships with Israel, Iran and the United States after a war that has exposed their vulnerability.