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Chicago jet fuel reaches $5 per gallon as refiner repairs add to the war-related surge in price
Chicago is now the most expensive jet fuel market in the United States, with prices exceeding $5 per gallon. This is due to the disruptions caused by the Iran War, combined with scheduled refinery maintenance, which has left a tight supply. The blockade of Iran's Strait of Hormuz - a major chokepoint for Middle Eastern oil exports - has caused energy prices to rise worldwide. This has forced airlines to raise fares and reduce capacity as a result of jet fuel shortages. GasBuddy analyst Patrick De Haan says the Chicago area is being hit by ongoing refinery maintenance, which has driven jet fuel prices up to $5 per gallon on the regional wholesale market. He said that before the Iran War, Chicago spot jet fuel traded for about $2.47 per gallon. Chicago's O'Hare International Airport, one of the busiest in the world. Other U.S. markets for spot jet fuel have seen a less dramatic rise in prices. New York Harbor jet 'fuel was $4.85 per gallon on Tuesday, up from $2.51 before the war. U.S. Gulf Coast jet fuel is now $4.86 per gallon, up from $2.39 prior to the conflict, De Haan reported. Phillips 66's 356,000-barrel-per-day Wood River refinery in Illinois took its crude oil unit and some other parts of the refinery offline at the end of ?February for a 45-day maintenance period, industry monitor IIR Energy told . IIR reported that Marathon Petroleum's 253,000 bpd Robinson Refinery in Illinois began scheduled maintenance?inmid-March. Units are expected to be offline until mid May. The Midwest's refinery outages were the highest in all U.S. regions for the week ended April 3. Hillary Stevenson is vice president of energy intelligence at IIR. GasBuddy's De Haan said that refinery problems are impacting the?supply of refined products and their pricing. Sharp increases in spot trading will be passed on to consumers soon. Market participants reported that cash differentials for Chicago spot?diesel rose 25 cents per gallon on Tuesday to trade at a 5-cent premium to the benchmark ultra-low sulfur diesel. (Reporting from Shariq Khan, New York; editing done by David Gaffen.)
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US Transportation Secretary sees space for airline mergers
?U.S. Sean Duffy, Transportation Secretary for the United States, said that he believes there is still room for consolidation within the airline industry. Sean Duffy, Transportation Secretary, said on Tuesday that he believes there is room for consolidation in the?U.S. Duffy stated on CNBC that if there were a merger of some of the bigger airlines, some of their assets would need to be separated. "I will not pre-commit to anything." The sharply increased jet fuel prices in the U.S. and Israeli war against Iran have?fed rumors that a new round could be of consolidation within the U.S. airline industry. Duffy said that any deal would require the approval of Donald Trump, USDOT, and the Justice Department. "Who will match up ?...? Does the aviation industry have room for mergers? Duffy acknowledged that "there has been a lot said" about possible deals. Since the 1970s, antitrust regulators have approved a series mergers which has resulted in four U.S. airlines controlling about 80% of domestic passenger traffic. American Airlines, Delta Air Lines United Airlines and Southwest Airlines. JetBlue canceled its $3.8 billion merger with Spirit Airlines in 2024 after an American judge blocked the deal over anti-competition concerns. JetBlue announced last year a partnership that allows travelers to earn and use frequent flyer points on both carriers websites. Former President Joe Biden’s Departments of Justice and Transportation launched a public inquiry in 2024 into the competition?in air travel. Biden's administration has taken a strong stance against consolidation in the airline industry. (Reporting and editing by Chris Reese, David Gregorio).
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DHS: US airports could no longer process international travelers in certain'sanctuary' cities
Homeland Security Secretary Markwayne Mullin stated on Tuesday that Customs officials may stop 'processing international travellers at major U.S. Airports in "sanctuary Cities" that have refused to cooperate with a hardline immigration crackdown by the Trump administration. This could seriously impact U.S. tourism and trade. This move could halt air travel, commerce and tourism at major airports located in Democratic states. It will also have a major impact on the FIFA World Cup which is scheduled to begin in early June. Last year, more than 50?million foreign travelers landed at three major New York Airports. In October 2025, the U.S.?Department of Justice released a list of sanctuary cities and state that included many major international airports in cities such as Denver. Philadelphia, Chicago. Los Angeles, New York City. Newark. Seattle. and?San Francisco. Since?mid February, the U.S. immigration enforcement and airports have been at a center of a partisan funding battle. Democrats refused to fund additional money to President Donald Trump's immigration clampdown without reforms that would scale back aggressive tactics. Mullin cited Democrats' refusal to agree to a funding deal for the Department of Homeland Security including Customs and Border Protection and said he was looking forward to speaking with?Trump on the idea of pulling the customs offices. Mullin said to reporters in North Carolina that it was an option, but no decision had yet been made. "If cities are going to say they won't enforce immigration policies and sit there, then I will repeat that it makes no sense for us process international travelers in that city." Mullin said that pulling customs officers from the DHS was just one option being considered as Congress is still deadlocked on funding. "We are going to have those conversations. This is something that I am merely?thinking about, as?I stated. He said, "This isn't necessarily something I'm going to do." Mullin argued state and local policies and laws that limit immigration enforcement are illegal, because they contradict federal immigration laws.
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Sources say that local suppliers have prevented jet fuel shortages at four Italian airports
Three sources said that local suppliers had stepped up to solve a temporary 'jet fuel shortage' at four Italian airports. This was in response to a sharp increase in jet fuel prices since the start of the U.S.-Israel war against Iran. Last week, the airports in Milan, Venice, Treviso, and Bologna alerted airlines about limited jet fuel supply from British company Air BP between April 2 and 9 according to advisories that were exchanged and seen by. Sources with knowledge of the situation said that alternative suppliers had filled the gap temporarily. They added that the problem affecting Air BP was due to a late cargo. The cause of the delay and where the cargo came from was not immediately clear. BP refused to comment. According to S&P Global, Europe imported more than half its jet fuel last year from the Middle East. The four airports have confirmed to? All four airports confirmed to? The SAVE Group has confirmed that the fuel supply is under control. There are no "critical issues" affecting supplies or flight operations, according to a recent statement from the operator of Venice airport and Treviso. SAVE has said that it can rely on multiple jet-fuel suppliers and has ruled out any supply problems for the short term. Corriere della Sera was the first to report jet fuel problems at four Italian airports. Reporting by Francesca Landini, London; additional reporting by Stephanie Kelly, Milan; editing by Giselda Vasgnoni
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China and Russia reject UN resolution protecting Hormuz shipping
China and Russia have vetoed the U.N. Resolution encouraging states to coordinate their efforts to 'protect commercial shipping along the Strait of Hormuz. The U.S. Ambassador to the world body has called for "responsible countries" to join with the U.S. to secure this vital waterway. The Security Council, which consists of 15 members, voted in favor of the Bahraini resolution with 11 votes. China and Russia were against and there were two abstentions. Donald Trump, the U.S. president, warned that "a whole civilisation will die tonight", if Iran did not accept his ultimatum by Tuesday evening (Washington time). The oil prices have risen since the U.S. & Israel attacked Iran at the end February. This has led to a conflict which?has lasted for more than 5 weeks, while Tehran has closed the Strait of Hormuz that used to be the route of about a fifth?of?global liquefied gas and oil. Bahrain's Abdullatif Bin Rashid Al Zayani, Bahrain's foreign minister, said that the draft resolution was not adopted due to a negative vote from a permanent council member. U.S. AMBASSADOR CONDEMNS VETOES Mike Waltz, the U.S. Ambassador to the United Nations condemned the Russian and Chinese Vetoes. He said that they marked "a new level" of repression, as the Iranian closure of the Strait prevented medical aid from reaching the humanitarian crises in Gaza, Sudan, and the Congo. No one should tolerate this. They are holding global economic growth at gunpoint. Today, Russia and China tolerated it. "They sided with a government that is brutalizing its own citizens while trying to intimidate the Gulf. Waltz stated that Iran could "reopen the Strait to seek peace, and make amends." He said: "But before then, we ask responsible nations to join in protecting the Strait of Hormuz and securing it for?lawful trade, humanitarian goods and free movement of goods around the world." France regretted the vetoes. Jerome Bonnafont, its ambassador to the United Nations, said that the goal was to "encourage strict and purely defensive actions to ensure the safety and security of the Strait" without spiraling into escalation. China and Russia exercised their'vetoes, despite the fact that Bahrain significantly weakened its draft when China refused to authorize force. The draft that was put to a vote did not include any authorization for the use of force. A reference to binding enforcement that was included in an older draft has also been removed. The?text instead strongly encouraged States to "coordinate efforts defensive in nature, commensurate with the circumstances, so as to contribute to ensuring the safety and security of the navigation across the Strait of Hormuz." The text also stated that such contributions may include "the escort of commercial and merchant vessels" and supported efforts "to discourage attempts to close or obstruct international navigation through Strait of Hormuz." Reporting by David Brunnstrom, Editing by Caitlin and Barbara Lewis
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Despegar CEO: Brazil-driven expansion will triple business in 3 years.
Despegar, an online travel agency focusing on Latin America, plans to triple its size in the next three-year period. Its operations in Brazil will be the main driver, and it plans to invest $100m per year over that time. Gonzalo Estebarena, the company's top executive, said that it will invest in artificial intelligence technology for a "future based very much on artificial intelligent". Despegar, founded in Argentina in 1999 is one of Latin America’s largest online travel platforms. After its acquisition by Prosus, for approximately $1.7 billion, it was delisted from New York Stock Exchange. Estebarena, in an interview at Despegar offices in Buenos Aires, said: "We want to triple the company in three or four years both in terms of transactions and operations." He added that "the growth rate we propose going forward is more aggressive than growth seen in the past seven or eight year," By the end of this decade, the firm plans to more than triple the current gross bookings. Estebarena was Despegar's Chief Technology Officer before assuming his new role in this month. He said that growth would be driven by integration with other platforms, particularly those owned by Prosus, which owns iFood, Brazil's largest food delivery app. Estebarena reports that since the integration began in 2025, 14% (or more) of Decolar's revenue in Brazil has come from iFood clients who have earned points through a loyalty program. It gives us a great deal of?confidence because iFood 'has 25 times more customers than Decolar. This is a great growth opportunity. He said, "The opportunity is immense." He said that there has been a slowdown in sales of tickets and travel packages as the war in the Middle East pushed up oil costs and created uncertainty among customers. "The ?main impact is the uncertainty ?it creates among people and, potentially--although not ?yet to the extent it could reach in the future--we are starting to see an impact on prices due to rising fuel costs," Estebarena said. (Reporting and writing by Eliana Razewski, Editing by Janane Vekatraman).
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Transporters in Guinea-Bissau strike over fuel price increases
Transport drivers in three?locations in Guinea-Bissau, including the capital, went on strike Tuesday after the government raised fuel prices as a'response' to the Iran _war, but prohibited any increase in passenger fare. Residents reported that taxi and van drivers were not working in Gabu, which is the largest city of the east. They also said that Mansoa was the same. This forced passengers to walk long distances. Caram Gassama is the chairman of the country’s drivers’?union. He said that vans with at least 15 seats began their strike in Bissau on Tuesday. Taxis are expected to follow suit on Wednesday. African governments have increased fuel prices sharply as global oil prices are surging due to the Iran War. This could spark inflation on the continent. Guinea-Bissau raised the price for diesel last week from 700 CFA Francs (about $7.50) to $898 CFA Francs (about $8.99). The government also raised the price for gasoline from 794 to 899 CFA Francs. The government that took power in November through a coup d'état also prohibited?increases to fares for passengers. The shortage of petrol in West Africa has been a problem for the last two weeks. The government of Guinea-Bissau, headed by Major-General Horta?Inta-a did not comment on the transport strikes on Tuesday. A government spokesperson failed to respond to a comment request.
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Gautam Adani is seeking to dismiss the US SEC fraud charges against him
Gautam Adani will ask a U.S. His lawyers announced on Tuesday that he will?ask a?U.S. Adani and Sagar Adani, both executives and directors at Adani Green Energy where they are both employed, were charged in November 2024 by the Securities and Exchange Commission (SEC) with orchestrating a bribery scheme in which hundreds of millions of dollars in bribes would be paid or promised to Indian government officials for Adani Green Energy's benefit. Adani Green is accused of failing to disclose the scheme to bond investors in documents for its $750 million offering in 2021. Adani's attorneys said in a filing to the Brooklyn federal court that the SEC claims are "impermissibly exterritorial," as the alleged misconduct and the defendants were all in India, and the bonds were not traded on any U.S. exchange. Lawyers also said that the Adanis were not involved in the offering, and there was no credible evidence to support the bribery scheme. The SEC?did not immediately respond to an inquiry for comment.
Delta Air and Southwest Airlines raise checked baggage fees in response to rising jet fuel prices
Delta Air Lines & Southwest Airlines announced on Tuesday that they will increase fees for checked baggage. The carriers are trying to offset the rising costs of jet fuel due to the escalating Middle East tensions.
After tensions in the Middle East disrupted shipping through the Strait of Hormuz, the global aviation industry has struggled with high fuel prices.
According to the International Air Transport Association, jet fuel prices have risen to $209 per barrel worldwide, up from $85-$90 a barrel in February, before 'the Iran War.
Delta and Southwest announced that fees for checked baggage would rise by $10 for new bookings. The first bag will now cost $45 and the second $55.
Delta, which plans to increase fees on select domestic and short-haul routes internationally, has announced that the third checked bag fee will go up from $50 to $200.
Delta said that the increases would apply to all bookings made after Wednesday. Southwest will apply the increase to bookings made after Thursday.
United Airlines and JetBlue Airways have both made similar moves to increase domestic baggage fees.
Like some of its rivals, Delta has a buffer. It is a refinery owned by a subsidiary in Pennsylvania.
The refinery is capable of producing 190,000 barrels a day, which provides nearly three quarters of its fuel requirements. However, it remains vulnerable to price spikes for crude oil.
The benefits of checked baggage?connected to frequent-flyer programmes, premium fares and cobranded credit cards will remain the same. Delta has confirmed that there will be no change to the baggage fees for long-haul flights. Reporting by Shivansh Tiwary in Bengaluru and Megavarshini G. Somasundaram; editing by Vijay Kishore
(source: Reuters)