Europe, with coverage of demand in less than 30 days, is the most vulnerable major market for jet fuel if tensions in the Middle East intensify.

Reuters UK listed Britain, France and Germany as being at the greatest risk due to their dependence on shipments transiting through the Strait of Hormuz.

According to an estimate by the energy institute Spectis, Europe would face a shortfall of nearly 600,000 barrels per day in the third quarter, while the United States and Asia-Pacific have a surplus of supply. Europe’s inventories are 38 million barrels, and the United States has 99 million barrels.

The EU energy commissioner said that if needed, the release of the member states’ national stocks would be coordinated.