Strait of Hormuz Tensions Push Jet Fuel Costs Higher — And Private Aviation’s Staffing Is Feeling It First
Oil markets have been on edge since Iran attacked oil tankers in the Strait of Hormuz, triggering retaliatory U.S. strikes and pushing shipping risk in the strait to “severe.” Brent crude spiked as high as $80/barrel — its sharpest single-day gain since May — after trading below $76 just two weeks earlier. Jet fuel followed: […]