Europe has ‘maybe 6 weeks of jet fuel left,’ energy agency head warns – business live

There will be flight cancellations ‘soon’ if oil supplies are not restored in coming weeks, says head of IEAEurope has only six weeks’ supply of jet fuel left owing to Iran war, says energy chiefThe UK’s growth acceleration in February is likely to be “short-lived”, due to the Iran war, warns Andrew Hunter, associate director and senior economist at Moody’s Analytics:“The 0.5% month-over-month jump in U.K. GDP in February, and slight upward revision to January’s data, echoes the earlier improvement in the surveys and suggests the economy had more momentum at the start of this year than previously thought.However, with those surveys weakening quite sharply in March as the Middle East conflict sent energy prices soaring, this upturn is likely to prove short lived. Continue reading...