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Europe may face fuel shortages next month, Shell CEO warns
Shell CEO Wael Sawan said damage to Gulf facilities and near-halt of traffic through the Strait of Hormuz from the US-Israeli war on Iran could cause diesel and gasoline shortages in Europe from April.
Mar 25th 2026 · World
Insights
- Gulf energy facilities have been damaged and maritime traffic through the Strait of Hormuz has nearly halted, cutting global oil flows.
- Shell CEO Wael Sawan said jet fuel supplies are already affected, diesel could be next, and gasoline may tighten at the start of the summer driving season.
- Asian countries have been hardest hit so far, with Sri Lanka, Bangladesh and Pakistan rationing fuel and Japan and South Korea using strategic reserves.
- Europe imports about a quarter of its crude from North Africa and also relies on the US, Norway and West Africa for supplies.
- Tight global supply and competition from Asian buyers are pushing prices higher in Europe.
- The EU has ruled out returning to Russian oil despite calls to reassess sanctions, while the Druzhba pipeline via Ukraine remains disrupted.