The market for jet fuel in the European ​Union could get tighter if ‌the situation in the Strait of Hormuz does not improve within weeks, ​said the European Commission ​on Thursday.

The European Commission’s energy department ⁠issued an update on ​Thursday following the latest meetings of ​its oil and gas co-ordination groups.

"The Oil Coordination Group signalled that the closure ​of the Strait of ​Hormuz impacts both crude oil and all ‌major ⁠petroleum products, and that all EU countries are affected by the dynamics. So far, the EU ​has been ​experiencing ⁠price effects, with no physical supply disruptions at ​consumer level," it said.

"However, ​if ⁠the situation does not improve in the next weeks, markets are ⁠expected ​to become increasingly ​tighter, especially for jet fuel," it added.