US EditionVolatile Oil Markets Due to Middle East Conflict Increase Jet Fuel Prices
Airlines including Qantas and Air India raise fares and fuel surcharges due to jet-fuel prices nearly doubling amid Middle East conflict, causing over 43,000 flight cancellations.
7 Articles
7 Articles
NEW YORK (AP) — Shares in the United States are declining on Wednesday as oil prices rise again. The S&P 500 fell 0.4%, after an unusual day of moderate movements after an agitated period of war with Iran. The Dow Jones industrial average dropped 455 points, or 1%, at 11:45 a.m. Eastern time, and the Nasdaq compound receded 0.2%. Since the start of the war, extreme oil price movements have caused sharp upward and downward swings in financial mar…
Volatile oil markets due to Middle East conflict increase jet fuel prices
Volatility on oil markets is already being felt in the travel sector, as a spike in the price of jet fuel is being passed on to air passengers. Higher fares and fuel surcharges are beginning to appear across a number of airlines. With analysts warning that the war on Iran is likely to weigh on the travel sector for the year to come.
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