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

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

Reuters said the UK, France and Germany face the greatest risk due to their dependence on transiting shipments through the Strait of Hormuz.

According to estimates by the energy institute Spects, Europe will 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’ are 99 million barrels.

The EU energy commissioner said that, if needed, the release of the national reserves of member countries will be coordinated.