As the Looming Crisis Takes Hold, Jet Fuel Inventories Hit a 63-Year Low and Europe Faces Imminent Supply Failure, Genoil Inc. Offers the Only Viable Solution That Can Close the Gap

Proprietary Deep Conversion Upstream Specialized Refinery delivers up to 400%+ more transportation fuel per barrel - no new pipelines, no additional infrastructure required.

NEW YORK CITY, NY / ACCESS Newswire / June 5, 2026 / Genoil Inc. (OTC PINK:GNOLF) - The global energy crisis triggered by the ongoing closure of the Strait of Hormuz has now moved from a geopolitical threat to a quantifiable, imminent physical emergency. The world is not running short of crude oil in the ground - it is running critically short of the transportation fuels refined from it: jet fuel, diesel, and motor gasoline. Genoil's patented upstream deep conversion specialized refinery is the only commercially ready solution capable of closing this gap.

1. THE SPECIFIC SHORTFALLS: A CRISIS MEASURED IN DAYS, NOT YEARS

Jet Fuel: U.S. jet fuel inventories are forecast to fall to approximately 21 days of supply - the lowest level since 1963, according to the U.S. Energy Information Administration. Europe is expected to breach the IEA's critical 23-day shortage threshold in June 2026, according to Fortune and the IEA. The consequences are already visible:

• Spirit Airlines has ceased operations, collapsing under the weight of soaring fuel costs.

• Lufthansa has cancelled approximately 20,000 flights and is grounding 27 short-haul aircraft to conserve fuel.

• American Airlines has warned of a $4 billion earnings hit and is raising fares and cutting routes.

• Air New Zealand has forecast a pre-tax loss of up to NZ$390 million for 2026.

• A global bidding war for jet fuel has broken out, with prices between $160 and $230 per barrel, per CNBC.

• Ryanair - Europe's largest airline by passenger volume - has begun cancelling and axing routes from 19 airports across Spain, Portugal, France, Belgium, and Germany, cutting over 3 million seats from its European schedule. The significance of this cannot be overstated: Ryanair is hedged at approximately 80% of its summer fuel at $668 per metric ton - meaning it has locked-in contract prices for most of its fuel supply. Yet it is still cutting routes. This is a critical warning signal: when an airline that is 80% hedged is nonetheless cancelling flights, it strongly suggests that the futures market is failing to deliver physical product at contracted prices. A hedge is a paper contract - if the physical fuel cannot be sourced to fulfil it, the contract defaults. Ryanair's CFO has described an "armageddon" contingency plan, warning that weaker European carriers "may not survive" the jet fuel crisis. The fact that even the most hedged, most cost-efficient carrier in Europe is pulling capacity is the clearest possible evidence that this is a physical supply failure, not merely a pricing problem.

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