STOCKHOLM, April 28 —Sweden has given notice of a potential shortage of jet fuel stemming from ​the war in the Middle East, Energy Minister Ebba Busch said today.

A two-month war in the Middle East has shut the Strait of Hormuz and cut the global oil supply by ​20 per cent in the world’s biggest-ever supply disruption, pushing up crude prices to well over US$100 (RM395) a barrel. The Swedish government said that there was currently a good supply of jet fuel in the country but there could be a shortage further ahead.

"We want to issue a warning well in advance that there is a ‌risk that there will not be enough jet fuel," Busch told a press conference, ⁠without saying when problems could arise. "In Sweden ⁠and in the Nordic region we have considerable refinery capacity ⁠which uses North Sea oil. ⁠Even if competition and ⁠with it prices have risen, supply hasn't been affected noticeably yet."

Try to plan trips flexibly

Busch said Swedes should keep track of developments and try to be flexible in ⁠their travel plans.

"Don't book trips where you have to come home at a specific time. It's good to think that you might need a bit of a margin," she said, emphasising this was not a recommendation not to book travel.

Sweden could in a worst-case scenario face rationing of aviation fuel, but the situation going forward depends ⁠to a great degree on how the market adapts, Energy Agency Director General Caroline Asserup told the press conference. The government, however, said that there was ⁠no indication that Sweden faced a shortage of petrol or diesel.

With no end to the ⁠Middle East ⁠conflict in sight, economies around the world are gearing up for the long-term consequences, including higher inflation ​and slower growth.

Prime Minister Ulf Kristersson told ​the press conference Sweden was less affected than ‌many other nations thanks to its fossil-fuel-free electricity generation. ​The government has nevertheless warned that ​the economy will be significantly impacted. — Reuters