European airlines face a looming jet fuel crisis as the Strait of Hormuz blockade disrupts critical Middle East supplies. Ryanair warned that fuel shortages could hit European airports by May or June if the conflict continues, with the airline's suppliers guaranteeing fuel only through most of May. The war in Iran has already forced airlines to raise prices and cut flights across the continent.

Europe's vulnerability stems from decades of refinery closures, leaving the continent heavily dependent on imported jet fuel. Britain now has just four refineries, down from 18 in the 1970s, while the Middle East provides about 41 percent of European jet fuel imports. As of Tuesday, global jet fuel prices were roughly 80 percent higher than pre-war levels, according to the Platts Jet Fuel Price Index.

The crisis could deepen as summer travel season approaches, with demand for jet fuel set to surge. The International Energy Agency warned that shortages could materialize as early as June if Europe cannot replace more than half of its lost Middle Eastern supply. While the United States produces most of its own jet fuel and remains self-reliant, European carriers may need to cut schedules or pay premium prices for limited supplies, potentially reshaping summer travel plans across the continent.