Iran and Ukraine wars: Why ship fuel is running short, and why it matters

Author: Al Jazeera StaffPublished on: September 7, 2026Country: Iran

PoliticsBusiness & Economy

Iran and Ukraine wars: Why ship fuel is running short, and why it matters

The shipping industry is facing a fuel oil shortage, exacerbated by the US-Israel war on Iran and the conflict in Ukraine. Middle East fuel oil exports fell by 45% year-on-year to an average of 447,000 barrels per day. Analysts expect a deficit of 218,000 barrels per day for the third quarter of 2026, which could lead to increased global freight costs.

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