Europe facing severe flight cancellations by May and June: Economist

Rystad Energy chief economist Claudio Galimberti tells CNBC’s Ritika Gupta that global jet fuel shortages could trigger significant flight cancellations across Europe as early as May and June, just as peak travel season begins. This as Europe’s airport association is warning of “systemic” shortages if the Strait of Hormuz does not fully reopen soon. Galimberti also says oil prices could reach $200 a barrel if the Strait remains closed for a further six months.