Following a video conference with the transport ministers of the EU member states, Tzitzikostas said they were following situation closely but that the market was responding to the pressure and there were no signs of bottlenecks.

He acknowledged that some carriers had cancelled flights on account of high fuel costs, but not for lack of jet fuel.

Over the weekend, the head of the International Energy Agency (IEA), Fatih Birol, said that Europe had “maybe six weeks or so of jet fuel left.” He warned of flight cancellations if the Strait of Hormuz was not reopened.

Tzitzikostas said emergency stocks could be released if needed, but that was not yet the case.

The European Commission is to put forward measures and plans for the weeks ahead on Wednesday. A new fuel observation unit is to be announced.

The commission is looking into whether member states should keep emergency supplies of jet fuel and is also working on securing alternative jet fuel supplies, including from the United States.

Tzitzikostas said the commission was working on temporary proposals to allow airlines to retain flight slots at popular airports that they could lose through failing to use them.