Airlines Urge Early Bookings Amid Middle East Fuel Surge

Airline executives across Europe and beyond are urging travelers to book summer holidays immediately to avoid steep fare increases, as the ongoing conflict in the Middle East drives jet fuel prices to record highs and threatens global travel plans.

The war, which escalated with actions by the United States and Israel prompting Iran's closure of the Strait of Hormuz, has disrupted oil shipments and nearly doubled aviation fuel costs in recent weeks. Prices peaked at around $175 per barrel between late February and mid-March, according to data from the International Air Transport Association. The strait, through which about 20 percent of the world's oil passes, remains blockaded, choking off up to 10 million barrels daily and raising fears of broader shortages. While crude oil prices have climbed above $75 per barrel, jet fuel has surged even more sharply due to Europe's dependence on imports.

Major carriers report that pre-purchased fuel contracts, a common hedging strategy, are shielding them from immediate impacts for the next few months. EasyJet Chief Executive Kenton Jarvis stated that his airline is secure for at least three weeks but emphasized the need for action. "The...