Shell CEO Wael Sawan warned that Europe faces significant energy shortages by April 2026. This crisis depends on whether the Strait of Hormuz remains closed to oil and gas shipping. Sawan delivered these remarks at a major energy conference in Texas. Middle East conflict has already disrupted global supply chains. Asia experienced the initial impact before the disruption spread toward Europe.
Jet fuel supplies are already constrained. Jet fuel prices have doubled. Sawan expects diesel and petrol supplies to tighten next. Rising demand from the upcoming summer driving season will likely pressure these markets.
German Economy Minister Katherina Reiche echoed these concerns. Reiche highlighted potential energy scarcity as early as late April or May if the conflict persists. Oil prices recently fell following reports of a potential peace plan but remain elevated. The market remains sensitive to geopolitical tensions and the critical importance of the Hormuz channel.