EU transport chief says no jet fuel shortage in Europe; UK house prices dip
6 reported
The European Union’s transport commissioner has stated there is no jet fuel shortage in Europe and no signs of one in the coming months, despite the lack of progress in reopening the Strait of Hormuz. Transport commissioner Apostolos Tzitzikostas told Reuters that high jet fuel prices have led airlines to cancel uneconomic routes, with two million airline seats cut in May, less than 2% of global capacity. He warned the situation would be “very difficult” by year-end if Middle Eastern supplies remain disrupted, but noted Europe has emergency stocks. Separately, UK house prices edged down 0.1% in May, the third monthly drop in a row, according to lender Halifax. The average price fell to £298,806 from £299,251 in April, with annual prices 0.5% higher than May 2025. Halifax’s head of mortgages said property trends reflect uncertainty linked to Middle East developments and higher borrowing costs.
What’s reported
EU transport commissioner Apostolos Tzitzikostas told Reuters there is no jet fuel shortage in Europe and no signs of one in the coming period.
High jet fuel prices have prompted airlines to cancel uneconomic routes; in May, airlines cut two million seats, less than 2% of global aviation capacity.
Tzitzikostas said the situation would be “very difficult” by year-end if Middle Eastern supplies remain disrupted, but Europe has emergency stocks.
UK house prices fell 0.1% in May, the third monthly drop in a row, according to Halifax.
The average UK house price in May was £298,806, down from £299,251 in April; annual prices were 0.5% higher than May 2025.
Halifax head of mortgages Amanda Bryden said property trends reflect uncertainty from Middle East developments and higher borrowing costs.
Key figures
Apostolos Tzitzikostas, EU transport commissioner
Amanda Bryden, head of mortgages at Halifax
Sources: The Guardian
