The European Commission warns of an upcoming crisis in the aviation fuel market following tensions in the Strait of Hormuz
Brussels, May 28 / WAM / The European Commission warned today of the possibility of worsening tightening in the aviation fuel market within European Union countries in the coming weeks if the current conditions in the Strait of Hormuz do not improve.
The Commission’s Energy Department stated, in an update issued following the meetings of the oil and gas coordination groups, that any closure of the Strait would have a direct impact on the supply of crude oil and all basic petroleum products, which would affect all member states of the European Union.
At the same time, the Commission indicated that the effects observed up to this moment are limited to price levels, without monitoring any actual disruptions in supplies reaching consumers, but it renewed its warning that the continuation of the current scene without any tangible improvement in the coming weeks will lead to tighter markets, especially with regard to aviation fuel.
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