Shell CEO Warns of Potential European Fuel Supply Disruptions

Shell CEO Wael Sawan has warned that European countries could face fuel shortages as soon as next month due to the ongoing U.S.-Israeli war on Iran. Speaking at the CERAWeek conference in Houston, Sawan stated that the disruption is spreading across regions as energy markets tighten. He specifically identified the Strait of Hormuz as a major vulnerability, noting that maritime traffic through the chokepoint has nearly halted. Europe is particularly exposed due to its reliance on Middle Eastern and Indian imports for diesel and jet fuel, combined with reduced domestic refinery capacity.