Anonymousabout 4 hours ago
Seven weeks after the U.S.-Israel air war on Iran triggered the closure of the Strait of Hormuz and the largest oil supply disruption in history, partial reopening of the waterway has done little to relieve energy markets or the airline industry. Jet fuel prices have more than doubled to over $4 per gallon, airlines are cutting routes and raising fares across every segment, and structural factors from refinery shutdowns to depleted hedging positions are keeping the pain elevated well beyond what raw crude prices would suggest.