Conflict in Middle East is pushing jet fuel costs higher and many carriers are not hedged against such increases, Michael O’Leary says
Ryanair’s chief executive has predicted a record increase in European air fares next year, as airlines grapple with fuel bills pushed higher by the Middle East conflict.
Many carriers are not hedged against rising jet fuel costs, Michael O’Leary said, which he predicted would lead to airline bankruptcies and takeovers. He forecast these pressures would result in the price of plane tickets rising by as much as 20%.
Days after Donald Trump announced a deal to import Russian diesel into the US in an effort to lower soaring pump prices, the world’s energy watchdog has warned that the global fuel shortage will drag into 2027.
Trump’s temporary sanctions reprieve was criticised for offering “too little, too late” to temper the sky high pump prices triggered by the shutdown of war-damaged refineries in the Middle East and Russia – once the world’s second-largest diesel exporter behind the US.
Trump has attacked Iran twice, both times amid nuclear negotiations and alongside Israel. The war has made it more likely that Iran will acquire nuclear weapons, and has undermined the cause of nuclear nonproliferation across the Middle East and beyond.
The Jewish Institute for National Security of America (JINSA) has taken credit for a number of recent legislative efforts on behalf of Israel, including NDAA Section 219
US treasury bonds (the benchmark asset for the entire global dollar system) have experienced their worst returns in history... The war Israel pushed us into is slowly demolishing the American economy and financial system
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