Why Flight Prices Might Not Fall After the U.S.-Iran Deal
Jet fuel may stay expensive for months, and airlines know travelers are willing to pay more for tickets.
Jet fuel may stay expensive for months, and airlines know travelers are willing to pay more for tickets.
The amount of oil and fuel stored by businesses and governments has fallen sharply since the start of the U.S.-Israeli war against Iran.
As the war in Iran persists, signs point to a prolonged period of higher prices and slower growth rather than a quick shock.
An imploding economy is causing hopelessness among both pro- and anti-government Iranians. And for those who wished for regime change, the letdown is palpable.
The Organization for Economic Cooperation and Development, in a report, said the Middle East war’s consequences “are likely to be felt for some time.”
The United States and Europe were at odds over the Trump administration’s decision to ease oil sanctions on Russia.
Top policymakers were expected to discuss rising energy prices and sanctions policy at a critical summit in Paris this week.
An analysis of oil export data offers clues about which nations have benefited from higher prices, and which have lost a lot of revenue.
Hopes for an end to the war in Iran faded after President Trump failed to secure a commitment from China to help persuade Iran to reopen the Strait of Hormuz.
The president is expected to urge the Chinese leader to help ease tensions in the Middle East by helping to persuade Iran to end the war.