Europe's summer travel is on the line as airlines' jet fuel supply dwindles [MSNBC.com]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
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Source: MSNBC.com
In this articleJet fuel shortages threaten to disrupt the upcoming summer travel season as the conflict in the Strait of Hormuz intensifies.Nurphoto | Nurphoto | Getty ImagesPeak travel season is almost here, but the International Agency's head told CNBC that Europe may struggle to meet surging jet fuel demand as the Middle East crisis continues.The IEA's chief Fatih Birol said that Europe needs to secure alternative sources of jet fuel as the Strait of Hormuz, which previously carried roughly 20% of the world's oil supply"In August, jet fuel demand is about 40% higher than in March, so demand will increase, and if the supply stays where it is now, the challenge can be even bigger, but I very much hope that Europe will be importing energy," Birol said in aconversation with CNBC's Steve SedgwickCONVERGE LIVEwatch nowVIDEO2:1002:10Europe facing summer travel chaos as jet fuel demand set to surge: IEA chiefConvergeMiddle East refineries provide Europe with around 75% of Europe's jet fue
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