Europe's airline industry is at risk of a "systemic" jet fuel shortage if the Strait of Hormuz blockade continues, potentially leading to hundreds of flight cuts. The situation depends on how many barrels will be flowing through the Strait, according to experts. The U.S. began a naval blockade of ships entering and leaving Iranian ports to reduce Iran's oil exports and increase pressure on Tehran. The shortage could hit as early as three weeks, disrupting peak travel season for several EU member states. The price of jet fuel nearly doubled after the war with Iran, which led to oil prices soaring to over $100 a barrel. European airlines are already cancelling flights and lowering profit expectations as the conflict continues.