News · 2 April 2026
Shell Boss Warns of Fuel Shortages in Europe Within Weeks
Unsplash / Val Vesa
Energy-intensive sectors from farming to pharmaceuticals face growing disruption while the Strait of Hormuz stays shut. Shell CEO Wael Sawan warned that European fuel supplies could run short if the blockage continues, with oil already trading above $100 a barrel. Peel Hunt economist Kallum Pickering said the shock is spreading from west to east and heightening global recession fears.
Reported by OilPrice.com · How we write briefs