NWE Jet Fuel Soars, 13,000 flights cancelled in May

Following US and Israel strikes on Iran in March, jet fuel (priced in $ per tonne) has risen from roughly $750 to more than $1500 per tonne. 

Istanbul and Chicago O'Hare have been the most impacted in terms of cancellations (according to data from aviation analytics firm Cirium). This is partly due to Turkish Airlines being hard hit by the closure of the Strait of Hormuz. Lufthansa has also cancelled many flights. 

The 13,000 cancellations represents 1% of global flights.

The UK imports around 65% of the jet fuel it uses.

The IEA has warned Europe will face jet fuel shortages by June.