Rystad Energy chief economist Claudio Galimberti tells CNBC’s Ritika Gupta that global jet fuel shortages could trigger significant flight cancellations across Europe as early as May and June, just as peak travel season begins. This as Europe’s airport association is warning of “systemic” shortages if the Strait of Hormuz does not fully reopen soon. Galimberti also says oil prices could reach $200 a barrel if the Strait remains closed for a further six months.
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Charlotte Zhou, Consumer and Internet A0analyst at China Galaxy International, discusses shifts in consumer behavior during China’s Labor Day “Golden Week.” While overall spending was strong, consumers appeared more cautious and value-driven, with a pivot towards more short-haul domestic trips, opting for […]
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ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Matt Smith, Kpler director of commodity research, joins ‘Squawk Box’ to discuss the state of energy prices, impact of rising jet fuel costs on travel, whether the shortage in jet fuel will lead to more flight cancellations, and more. Source
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A Spirit Airlines plane sits parked at Hollywood Burbank Airport on April 16, 2026 in Burbank, California. Justin Sullivan | Getty Images Spirit Airlines struggled for years, battered by larger, cash-rich airlines that copied its business model, failed mergers, higher costs and, most recently, a surge in jet fuel prices because of the war in […]
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