Airlines Scramble for Jet Fuel as Hormuz Disruption Drags On
The months-long closure of the Strait of Hormuz has led to severe fuel shortages around the globe, as companies battle to continue operations. Airlines have been hit hard as they struggle to obtain enough jet fuel to maintain their regular flight schedules. The U.S.-Israeli war on Iran led to the cl
Source: OilPrice.com
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DW NOTE
The Hormuz disruption is in its fifth month with only 8 ships a day moving through versus the normal 130–140. Airlines burn jet fuel whether the strait is open or not, and spot markets don't care about tentative ceasefire extensions. WTI is down 31% from its peak, but that only matters if the fuel you contracted for three months ago actually arrives.