Shell CEO says fuel shortages may reach Europe next month

Shell CEO Wael Sawan warned Europe could face fuel supply shortages as early as next month if the war involving Iran continues. He said the disruption is spreading across regions as energy markets tighten.

“It’s a ripple effect,” Sawan said, adding that shortages have already affected parts of Asia and could soon reach Europe.

“The problem is, we are more in reaction mode,” he said, urging governments to plan ahead and strengthen resilience in energy supply systems.