The effective closure of the Strait of Hormuz has prevented 20% of the world’s exported jet fuel from making it to airlines around the globe, while also stopping one fifth of the world’s crude oil from reaching refineries. That’s causing ripple effects throughout the global aviation network as airlines face a summer of higher fuel costs and potential fuel shortages.
While some nations are yet to feel the immediate effects, analysts say that even if the Strait were to reopen today, it could take many months for refineries to come back online and for jet fuel shipments to make their way around the world. WSJ explores how the war in Iran could impact your travel plans.
Chapters:
0:00 The current jet fuel crisis
1:25 Europe’s situation
2:36 The U.S.’s situation
4:00 Asia’s situation
4:31 What airlines can do to lessen the blow
5:26 How long the pain could go for
#Iran #Asia #WSJ
