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Maroc Maroc - WN.COM - Mideast - 01/Apr 17:29

Mideast conflict doubles jet fuel prices; global airlines see profits shrink

The Middle East conflict that started in late February has led to a record jump in global jet fuel prices. The energy markets have experienced considerable disruption due to the war in Iran, which has been in progress for more than a month now. The price of Brent crude rose by a record 64% since the beginning of March, its biggest gain in a month. Record price surge and widening refined fuel spreads Prices for oil products such as diesel and jet fuel have risen even more sharply due to the conflict in the Middle East, which has effectively shut down the Strait of Hormuz. The Strait is responsible for 20% of the world’s oil and liquefied natural gas trade flows. The price of jet fuel in...

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