00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Jet fuel prices nearly doubled from $2.50 a gallon on February 27th to $4.88 on April 2nd
00:09after the U.S. and Israel attacked Iran and the Strait of Hormuz effectively closed,
00:13according to CNBC. Airlines are preparing contingency plans as supply constraints
00:17raise the risk of shortages. The U.S. produces ample jet fuel and is less exposed than Europe
00:22and Asia, but airlines may still face shortages on international routes because planes refuel
00:27locally. United CEO Scott Kirby said the airline may cut Asia flights and warned broader industry
00:33reductions are possible as rising jet fuel costs hit harder in U.S. regions with limited pipeline
00:38access. UBS said domestic capacity growth fell to 2.1 percent from 2.3 percent and total capacity to
00:451.1 percent from 2.4 percent. Analysts warned sustained fuel prices above $4 could force
00:50further capacity cuts and pressure airline ratings. For all things money, visit Benzinga.com.
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