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Could Your Summer Flight Be Cancelled? Here’s What To Know As Jet Fuel Prices Surge
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Could Your Summer Flight Be Cancelled? Here’s What To Know As Jet Fuel Prices Surge

Forbes·Suzanne Rowan Kelleher·25 days ago
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Topline With the Strait of Hormuz closed for nearly 10 weeks, much of the world is running out of jet fuel and summer vacation plans could be disrupted, energy experts told Forbes. A Malaysia Airlines jet takes off over fuel storage tanks at Sydney Airport in Australia. getty Key Facts “It’s not going to be a short-term issue, because it can’t be easily solved,” Matt Smith, director of commodity research at Kpler, the energy data and analytics platform, told Forbes, having likened the jet fuel shortage to a “ slow-motion car crash .” “We’re going to be in crisis mode,” John Gradek, who teaches aviation risk management at McGill University, told Forbes, noting “the industry has never seen this before, where the actual supply of the product needed to support aviation, that pipeline, is drying up.” Europe’s jet fuel inventories are expected to dip below the International Energy Agency’s critical 23-day shortage threshold sometime in June, according to a recent Goldman Sachs research note to investors.…

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