The threat of widespread flight cancellations during the upcoming summer holidays looms in Europe as the Airports Council International Europe recently warned that jet fuel shortages and cancellations are inevitable unless a stable supply resumes within three weeks.
The closure of the Strait of Hormuz drove up oil prices considerably in a short span as tankers remained stranded in queues in the region facing tremendous conflict. While US President Donald announced late Tuesday the US would extend the ceasefire with Iran, he mentioned that the Hormuz blockage by the US would continue.
