Europe could face shortages of jet fuel if ships are not allowed to pass through the Strait of Hormuz soon, an association of airports warned top European Union officials on Thursday.

The warning, from the Airports Council International Europe, came days after President Trump announced a cease-fire agreement with Iran that was supposed to unblock the strait. But ship traffic through the passageway, which lies between Iran and the Arabian Peninsula, remains far below prewar levels.

A significant share of global oil and jet fuel supply is exported from the Middle East through the strait. But that has been virtually cut off since the United States went to war with Iran. The shortage so far has mainly resulted in higher fuel costs for airlines, which have cut unprofitable flights, raised ticket prices, added fuel surcharges and increased bag fees.

“At this stage, we understand that if the passage through the Strait of Hormuz does not resume in any significant and stable way within the next three weeks, systemic jet fuel shortage is set to become a reality,” the group said in a letter to E.U. officials.

Fuel supply shortfalls could “severely disrupt airport operations and air connectivity,” risking “harsh” economic consequences, according to the group, which represents most airports on the continent.

Europe is particularly reliant on the Middle East for fuel. At least 40 percent of Europe’s jet fuel imports last year came from the Persian Gulf through the Strait of Hormuz, according to Amaar Khan, European head of jet fuel pricing for Argus Media, a company that tracks commodity prices. Kuwait is Europe’s largest jet fuel supplier.

Asia is also very reliant on the Persian Gulf for energy, and some airlines there have had to cancel flights because of low supplies of jet fuel.

(http://www.autoadmit.com/thread.php?thread_id=5855840&forum_id=2),#49809302)