International Energy Agency

IEA warns EU jet fuel shortages could begin in June as Hormuz stays blocked

The European Commission is due to present a broader package of energy and transport measures, with the EU's transport chief noting no signs of "widespread [flight] cancellations" in the near future.

|ByREUTERS
An EasyJet plane is refuelled ahead of takeoff at Southend Airport on April 17, 2026 in Southend, England.
International Energy Agency (IEA) Executive Director Fatih Birol speaks during a press conference in Istanbul, Turkey, March 12, 2026.

International Energy Agency: Middle East oil crisis severe, global economy at risk

“A stock release will help to comfort the markets, but this is not the solution. It will only help to reduce the pain in the economy," IEA Executive Director Fatih Birol said.

|ByREUTERS
An aerial view shows the oil tanker named Boracay (also called Pushpa), a vessel being investigated by French authorities and suspected of belonging to the so-called "shadow fleet" involved in the Russian oil trade, off the coast of the western France port of Saint-Nazaire, France, October 2, 2025

Oil’s geopolitical premium vanished in 2025 and may not return - opinion

Oil futures in 2025 have oscillated within a relatively narrow range, with the high coming in January before the Organization of the Petroleum Exporting Countries began production increases.

|ByRON BOUSSO/REUTERS