Fuel Shock Forces Airlines Into Emergency Mode

Soaring jet fuel prices have hit the profitability of airlines, who have started raising air fares and grounding flights to contain the fallout from the Iran war, which has more than doubled aviation fuel prices over the past month. Oil and jet fuel supplies are constrained as crude and petroleum products are trapped at the Strait of Hormuz, forcing Asian refiners to cut run rates and Asian countries to restrict or ban exports to preserve domestic supply. Jet Fuel Shock The product market came under more severe stress than the crude markets as…