Strait of Hormuz declared reopened as world on brink of jet fuel shortage

The Strait of Hormuz has been reopened by Iran, an official has announced. Just hours after Europe has been warned it is facing flights cancellations in just six weeks over jet fuel shortages and a IATA official has called for plans in place should "rationing" be needed, Iran said the key waterway can be accessed by commercial vessels.

The freedom of passage will last throughout the ceasefire between Lebanon and Israel, the Iranian official said. Iranian Foreign Minister Seyed Abbas Araghchi said: "In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran."

Taking to his social media platfrom, Truth Social, President Trump confirmed the Strait's reopening.

He wrote: "IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!"

It is unknown at this moment in time where the US blockade of Iranian ports remains after Iran's decision. The vital shipping route has been closed by Iran as a response to America and Israel' strikes. It's estimated that about a fifth of the world's oil supplies have to travel through the 50-mile-wide strait.

News of its opening comes as Keir Starmer chairs a gathering of around 40 world leaders in Paris with Emmanuel Macron, later today will then have lunch with the French President.

Starmer is expected to tell the summit: The unconditional and immediate reopening of the strait is a global responsibility, and we need to act to get global energy and trade flowing freely again.

Emmanuel Macron and I are clear in our commitment to establish a multinational initiative to protect freedom of navigation.

We must reassure commercial shipping and support mine clearance operations to ensure a return to global stability and security.

The Strait's reopening comes just a day after the head of the International Energy Agency warned that Europe has "maybe 6 weeks or so (of) jet fuel left", adding that flight cancellations will soon hit if oil supplies remain blocked by the Iran war.

IEA Executive Director Fatih Birol painted a sobering picture of the global repercussions of what he called "the largest energy crisis we have ever faced," stemming from the pinch-off of oil, gas and other vital supplies through the Strait of Hormuz.

Earlier today, Willie Walsh, Director General of the International Air Transport Association (IATA), warned that flight cancellations across Europe could begin as early as the end of May due to supply chain disruptions caused by the war in Iran.

He said: "The IEA's assessment of potential jet fuel shortages is sobering. We have also estimated that by the end of May we could start to see some cancellations in Europe for lack of jet fuel. This is already happening in parts of Asia."