How the Strait of Hormuz crisis is sending jet fuel prices soaring and shaking global aviation

Since the US and Israel's attacks on Iran, jet fuel prices have soared due to the blockade of the Strait of Hormuz, significantly impacting the global aviation industry. Airlines face bankruptcy risks due to rising fuel costs, and some are considering fare increases and flight reductions. The EU is urging urgent measures, including suspending carbon emission regulations and temporarily relaxing fuel loading rules.