Jet Fuel Prices Climb Sharply Following Strait of Hormuz Closure, Airfares Increase Global jet fuel prices have risen sharply following the effective closure of the Strait of Hormuz amid the ongoing U.S.-Israel conflict with Iran, prompting multiple airlines to announce immediate airfare increases. The International Energy Agency has characterized the resulting supply disruption as the largest in global oil market history [1]. Jet fuel prices, which were approximately $85 to $90 per barrel before the conflict, have surged to between $150 and $200 per barrel in recent days, according to industry reports [2]. Analysts warn that this sudden increase…

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