European airports ‘face jet fuel shortages within three weeks’; Irish army called in over fuel protests - business live

European airports warn of imminent jet fuel shortages as regional crude prices surge, while Ireland deploys army to contain fuel protests. | Contesto: cronaca

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• European airports ‘face jet fuel shortages within three weeks’; Irish army called in over fuel protests - business live

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European airports are facing the prospect of severe jet fuel shortages within three weeks, according to a warning from a body representing the continent's air travel hubs. The alert, issued on Friday, states that "systemic" shortages will occur if the Strait of Hormuz, a critical global oil chokepoint, is not reopened. Simultaneously, the Irish government has called in the army to manage petrol demonstrations now entering their fourth day, highlighting how energy supply disruptions are translating into immediate social and logistical crises. The stark warning for aviation comes despite a nominal two-week ceasefire in the Middle East that has kept the global benchmark oil price below $100 a barrel. Beneath this headline figure, however, the physical market for crude is screaming a different story. The price for Forties blend crude from the North Sea, a key regional benchmark, soared to almost $147 a barrel on Thursday, a level not seen since the peak of the 2008 financial crisis. Data from LSEG shows global refineries are engaged in a fierce competition for available cargoes, driving spot prices to extraordinary premiums and exposing the fragile state of global energy logistics. The situation at the Strait of Hormuz is the central pressure point. The waterway, through which roughly a fifth of the world's oil passes, has been effectively closed due to regional hostilities. While diplomatic efforts show flickers of life—with in-person talks between the US and Iran scheduled for the weekend—the physical blockage continues to strangle supply chains. The airports' warning underscores that the aviation sector, which operates on just-in-time fuel deliveries, has minimal buffer to absorb such a protracted disruption. A three-week timeline suggests contingency stocks are already critically low. On the ground in Ireland, the energy crisis has taken a different, more immediate form. Protests over fuel prices and availability have persisted for four days, prompting an unprecedented response from authorities. The deployment of the Irish army represents a significant escalation, indicating concerns over public order and the security of fuel distribution networks. This...

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