Airlines Scramble for Jet Fuel as Hormuz Disruption Drags On

3-line summary

• European jet fuel supplies face a forecast deficit of almost 600,000 barrels per day in the third quarter due to the prolonged closure of the Strait of Hormuz, according to a report citing Energy Aspects.
• Jet fuel prices spiked to $215.32 a barrel before falling to about $130, and United Airlines said it expects nearly $6 billion in additional fuel expense for full-year 2026, according to the report.
• Southwest said its fuel expenses were almost $900 million higher in the second quarter year over year, and Ryanair said its operating costs rose 11% due to unhedged fuel exposure, according to the report.

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