Europe faces a growing risk of serious disruption to air travel, with jet-fuel stocks sufficient for approximately six weeks, International Energy Agency head Fatih Birol has warned.
He said shortages could lead to flight cancellations in the near future.
Hormuz at the centre of the crisis
A substantial share of global energy supplies passes through the Strait of Hormuz.
Disrupted oil and gas flows amid tensions involving the United States, Israel and Iran are placing severe pressure on energy markets.
Birol described the situation as the biggest energy crisis the world had faced, warning that the longer the interruption continued, the worse the consequences for the global economy would become.
Wider economic effects
Instability is expected to mean higher fuel costs, more expensive gas and increased electricity prices.
The effects will differ between regions.
Asian countries heavily dependent on Middle Eastern energy — including Japan, South Korea, India, China, Pakistan and Bangladesh — are particularly exposed.
The consequences are nevertheless expected to spread gradually to Europe and the Americas.
Flight cancellations possible
Birol warned that, unless conditions improved soon, fuel shortages could begin causing cancellations between cities.
That would directly affect travel, tourism and trade, adding to pressure on the global economy.
