Airline tickets could soon become more expensive as rising oil prices driven by the escalating Middle East conflict begin to ripple through the aviation industry. United Airlines CEO Scott Kirby is already warning that if fuel prices remain elevated, airlines will soon have little choice but to raise fares.
Energy markets have reacted sharply to the escalating geopolitical risk in the Middle East. Brent crude has surged and in some cases briefly traded above $90 per barrel amid fears that the conflict could disrupt oil flows through the Strait of Hormuz, one of the most critical chokepoints in global energy supply. Oil future prices surged 35% this week in the USA, the highest ever weekly jump ever recorded, after President Donald Trump demanded “unconditional surrender” from Iran.
That matters enormously for airlines.
A great solo travel tip spotted this week on Live and Let's Fly.
