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Wartime oil prices cause turbulence for flights: When will US feel the pinch?

The Hill·Rachel Frazin·about 1 month ago
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The closure of the Strait of Hormuz and surging oil prices amid the conflict in Iran are causing turbulence for airlines and Americans’ travel plans. Oil prices have skyrocketed since the war began, and futures of international benchmark Brent crude  were about $114 per barrel  on Thursday. The high cost of oil, as well as the strait’s closure itself, have raised prices for fuels including jet fuel. According to the  Argus , jet fuel was about $4.56 per gallon on Thursday, nearly double its $2.50 per gallon price before the war. The Strait of Hormuz is a key shipping lane for oil and other commodities that’s off the coast of Iran. Since the start of the war, Tehran has effectively kept it closed, with President Trump since adding a blockade of his own.…

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