EU Commission Spokesperson says the EU is to prep a joint action on jet fuel, if the Strait of Hormuz blockage persists

The EU's consideration of joint action on jet fuel amid the ongoing threat of a blockage in the Strait of Hormuz signals a proactive approach to potential supply disruptions. This could impact energy prices significantly, especially if tensions escalate, as it highlights the EU's dependency on Middle Eastern oil and fuels. Traders should monitor related asset classes, particularly crude oil and airline stocks, for market reactions.