Jet fuel spot prices have increased by 140% since the Feb. 27, 2026, closure of the Strait of Hormuz following U.S.-Israeli strikes on Iran. This surge, driven by fears of a severe supply shortage for low-inventory refined products, has driven Asian prices to over $225 per barrel. 

Key Impacts of the Jet Fuel Surge:

Massive Price Jump: The spot price for jet kerosene rose 140% from a Feb. 27 close of $93.45 a barrel.

European Impact: In Europe, jet fuel prices soared by more than 140%, reaching their highest levels since 2022.

Profit Margins: The profit margin for producing jet kerosene from Dubai crude jumped to over $100 a barrel.

Airline Response: Major airlines are hedging large percentages of their fuel needs into 2027 to manage the crisis.

Supply Chain Disruptions: The closure of the Strait of Hormuz has blocked a route that typically handles about 20% of the world's crude oil. 

Even if the conflict is resolved, the disruption to supply chains is expected to cause long-term pain in energy markets.