Iran War Leads To Jet Fuel Shortages In Europe, Driving Bans In South Korea As Countries Struggle With Energy Crises—How Is China Faring?

Benzinga04-21

The Iran war has disrupted multiple sectors, with aviation and energy industries among the hardest hit as regional tensions escalate. The report also said that South Korean government employees had ...

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href=https://www.benzinga.com/news/politics/26/04/51933133/iran-war-leads-to-jet-fuel-shortages-in-europe-driving-bans-in-south-korea-as-countries-struggle-with-energy-crises-how-is-china-faring><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Iran war has disrupted multiple sectors, with aviation and energy industries among the hardest hit as regional tensions escalate.\nThe report also said that South Korean government employees had ...</p>\n\n<a href=\"https://www.benzinga.com/news/politics/26/04/51933133/iran-war-leads-to-jet-fuel-shortages-in-europe-driving-bans-in-south-korea-as-countries-struggle-with-energy-crises-how-is-china-faring\">Source 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EQUITY \"AC\" (USD) ACC"},"translate_title":"伊朗战争导致欧洲航空燃油短缺，在各国努力应对能源危机之际，韩国也实施了禁令——中国进展如何？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LNG":1},"content_text":"The Iran war has disrupted multiple sectors, with aviation and energy industries among the hardest hit as regional tensions escalate.\nThe report also said that South Korean government employees had been directed to stop driving one weekday out of five as petrol reserves dry up and fuel prices at the pump surge. The government has set aside 26 trillion South Korean won (nearly $17 billion) to purchase fuel as soon as the strait opens up.\nThe report also says that residents have been urged to also take steps to slow down energy consumption, including charging EVs and phones during the day, reducing time spent in the shower, using vacuum cleaners and washing machines on the weekends only, cycling more, etc.\nThe country will also focus on increasing Nuclear energy outputs and is halting exports of jet fuel to prioritize domestic airlines.\nAccording to data from Airlines for America, a gallon of jet fuel cost $3.87 on Monday.\nAs China is also dependent on imports to fulfill energy needs, questions remained over the impact of the Strait of Hormuz shutdown. China imports over 70% of its crude oil, or over 11.9 million barrels per day, while also being the largest importer of Liquefied Natural Gas (LNG).\nThe rapid advancement of EVs has also decreased oil demand in China by up to 1 million barrels per day, the report said, while clean energy exports like Wind turbines and Lithium-ion batteries up 45% and 50% respectively, in the first quarter of 2026.\nIt is also ramping up domestic oil production by digging new wells in Xinjiang province, as well as utilizing its reserves in the Bohai Sea, the report said. However, the country still heavily relies on coal to produce electricity.\nMeanwhile, Trump has threatened Iran with strikes, warning that a failure to reach a deal with the U.S. could result in intense military action against the country. 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