KLM is citing fuel price, not shortage. They’re cutting under utilized flights which they cannot perform profitably at current prices. They’ve explicitly said it’s not because of a shortage.

https://nieuws.klm.com/statement-situatie-midden-oosten/

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khriss 2 days ago | parent [-]

Aren't those identical things? Shortage of commodity X, relative to demand, drives up prices for X.

	▲	jltsiren 2 days ago \| parent [-]
		A shortage can also be physical. The fuel you already bought (and possibly paid for) cannot be delivered. Maybe the actual delivery is the issue. Maybe a government confiscated it for other uses. Or maybe the fuel doesn't exist at all, because the refinery didn't have the oil to produce it.