bbc_business

The threat to summer holidays looming from jet fuel shortages

jet fuel prices have more than doubled since late february, hitting $1838 per tonne in early april before settling above $1500. the strait of hormuz has been blocked for eight weeks, cutting off about 20% of globally traded jet fuel — and europe gets more than half its imports from the gulf.

the uk is especially exposed: 65% of its jet fuel is imported, and two of its refineries have closed in the last two years, leaving just four. stocks at the amsterdam-rotterdam-antwerp hub are at a six-year low. the iea warned europe may have six weeks of fuel left, with critical shortages possible by june if the strait doesn't reopen.

airlines are already cutting summer schedules. lufthansa removed 20,000 flights through october. air france klm, air canada and sas have trimmed capacity too. fares on long-haul routes are jumping — a london-to-melbourne flight in june costs 76% more than last year. virgin atlantic added surcharges from £50 to £360. easyjet spent £25m in march alone buying unhedged fuel at spot prices.

source: bbc_business
sentiment: -0.20 · impact: 0.30

Oil prices climb after disputed report of Iran strike on U.S. warship in the Strait of Hormuz

oil started the week higher on a disputed claim of an iranian strike on a u.s. navy ship in the strait of hormuz. the report, which hasn't been confirmed by u.s. officials, added fresh volatility to crude markets. the strait of hormuz is a key chokepoint

The markets are in the early stages of pricing in stagflation. Here’s what happens next.

source: marketwatch_top sentiment: -0.70 · impact: 0.80

Warsh's take on Fed independence is met with confusion and some concern

kevin warsh, trump's pick to lead the fed, is drawing confusion from six former fed officials over his views on fed independence. the sticking point: he draws a line between monetary policy — which he says should be "strictly independent" — and "non-monetary matters" like international

'Bubble effect': Weight loss drug fueled growth is putting the pharma sector at risk, report finds

the weight-loss and diabetes drug boom is creating a bubble risk for pharma, according to a deloitte report out monday. r&d returns for the top 20 pharma companies hit 7% for a third straight year, driven almost entirely by glp-1 drugs like wegovy and zepbound. strip those out

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Oil prices climb after disputed report of Iran strike on U.S. warship in the Strait of Hormuz

The markets are in the early stages of pricing in stagflation. Here’s what happens next.

Warsh's take on Fed independence is met with confusion and some concern

'Bubble effect': Weight loss drug fueled growth is putting the pharma sector at risk, report finds