Jet fuel prices surged 20% in July, forcing major U.S. airlines to slash earnings guidance as Middle East tensions made fuel costs and profit forecasts increasingly unpredictable.

US airlines face rising jet fuel costs amid Middle East tensions. Crude oil reaching a new all-time high by December 31 at 13.5% YES.

Jet fuel prices surged 20% in July, forcing major U.S. airlines to slash earnings guidance as Middle East tensions made fuel costs and profit forecasts increasingly unpredictable.