The surge in the cost of jet fuel since the start of the Iran war is highlighting the vast disparity in how well individual airlines protect themselves against a price spike.
A ground crew worker carries a fuel pipe under a passenger aircraft on the tarmac at Vienna International Airport.
US crude inventories, including strategic reserves, plunged by a record as soaring exports start to erode domestic supply cushions.
An oil pumpjack in Santa Fe Springs, California, US, on Monday, May 4, 2026. With the US-Iran war creeping into its third month, oil traders are hedging against divergent outcomes tied to US inventories as the newly anointed top crude exporter faces unprecedented pressure to meet global demand. Photographer: Kyle Grillot/Bloomberg
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