U.S. Jet Fuel Costs Soar as Iran War Hits Airlines Again
Related: US Oil Drillers Take A Break As Oil Prices Hover Near $100A lot has happened in the two months after the end of May, with oil and fuel prices easing for about three weeks during which the U.S.-Iran memorandum of understanding held. The collapse of the MoU and the end of the ceasefire reignited the crude and fuel price rallies, further bloating airline fuel costs and forcing U.S. air carriers to revise down earnings expectations despite strong summer demand. Given the recent increase in the cost of fuel, the company is now expecting full-year adjusted earnings per diluted share to be between a loss of $0.65 and earnings of $0.65.
- ▪Related: US Oil Drillers Take A Break As Oil Prices Hover Near $100A lot has happened in the two months after the end of May, with oil and fuel prices easing for about three weeks during which the U.S.-Iran memorandum of understanding held.
- ▪The collapse of the MoU and the end of the ceasefire reignited the crude and fuel price rallies, further bloating airline fuel costs and forcing U.S. air carriers to revise down earnings expectations despite strong summer demand.
- ▪Given the recent increase in the cost of fuel, the company is now expecting full-year adjusted earnings per diluted share to be between a loss of $0.65 and earnings of $0.65.
2 outlets in our directory ran this story. All of the coverage we found sits in one bucket: centre. That one-sidedness is itself worth noticing.
- ▪ U.S. Jet Fuel Costs Soar as Iran War Hits Airlines Again — Yahoo Finance
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U.S. airlines are grappling with soaring jet fuel costs again after the return of hostilities in the Middle East shattered the three-week-long U.S.-Iran ‘deal to make a deal’ and sent Brent crude oil prices soaring past $100 per barrel again.The U.S. jet fuel market has been tightening since March, although there haven’t been concerns about any shortages in America, unlike in Europe, which in April was supposed to run out of stockpiles within six weeks.Europe didn’t see shortages, but the global markets tightened, and prices spiked amid peak seasonal demand during the summer holiday travel.U.S.
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