The military action by the US and Israel against Iran is leading to price increases in the energy sector. The Hormuz trade route in the Persian Gulf is still blocked by the Iranian regime. Attacks on tankers, refineries and oil infrastructure are continuing.
The price of Brent oil has risen dramatically, exceeding the $100 per barrel mark for the first time since 2022. Kerosene prices are also rising and aircraft fuel accounts for 20% to 30% of operating costs for most airlines.
