London, Mar 26:
Europe could confront significant energy and fuel shortages by April unless the strategic Strait of Hormuz reopens, according to Shell CEO Wael Sawan.
Continued disruption of crude exports caused by the ongoing conflict in the Middle East has already pushed jet fuel prices sharply higher and threatens diesel and petrol supplies ahead of the summer driving season.
German officials have warned that dwindling supplies could impact multiple countries, underscoring how closely global markets remain tied to Middle Eastern stability.
Analysts warn that prolonged high oil prices could risk a global economic slowdown if diplomatic solutions are not reached.