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23.06.26 - 17:18
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US Airlines Set To Pocket $40 Billion As Jet Fuel Prices Crash (ZeroHedge)
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US Airlines Set To Pocket $40 Billion As Jet Fuel Prices Crash
By Alex Kimani of OilPrice.com
US airlines stand to save billions in dollars on jet fuel costs after the US-Iran peace deal sent oil prices sharply lower.
Brent crude was trading around $78 per barrel, the lowest price since the start of the war, after Washington and Tehran agreed to a ceasefire and committed to 60 days of negotiations, while jet fuel spot prices fell to $2.85 a gallon, down sharply from $4.88.
The dip in fuel costs could slash the U.S. airline industry's annual fuel bill by more than $40 billion, easing the pressure on carriers who were facing margin pressures and a painful earnings squeeze.
The International Air Transport Association (IATA) previously warned that exploding fuel costs would halve global airline net profits in 2026 to $23 billion.
However, unlike previous oil price downcycles, airlines are unlikely to pass on these cost savings to passengers in the form of lower air fares.
According to Ray...
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22.06.26 - 06:24
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Precious Shipping Sees Stronger Freight Rates For Longer (Bloomberg)
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Precious Shipping MD Khalid Hashim says limited new vessel supply, combined with the resilience of older tonnage, is setting the stage for sustained strength in freight rates. He speaks with Haslinda Amin on "Insight with Haslinda Amin."
(Source: Bloomberg)...
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