Middle East Conflict Impacts Aviation Market; Jet Fuel Shortage Leads to Flight Cancellations and Soaring Ticket Prices

WealthCoffee · 2026-03-24T14:42:25+00:00

Middle East conflict triggers energy supply crisis, aviation fuel prices soar to 143% of pre-war levels, causing fuel shortages in some countries, flight cancellations, and ticket price increases, severely constraining aviation capacity.

WealthCoffee

2026-03-24 14:42:25

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[Caixin] The Middle East conflict has caused an energy supply crisis impacting the aviation fuel market: some countries are facing fuel shortages, leading to reduced airline capacity and flight cancellations, and global airfares are soaring.

Currently, the price of aviation fuel has doubled compared to before the Middle East conflict began. According to data provided to Caixin by S&P Global Energy, on March 4, the Singapore offshore price (FOB Singapore) for aviation fuel surged to $231.42 per barrel. As of the Asian market close on March 19, the Singapore offshore price was $227.42 per barrel, compared to $93.57 per barrel before the conflict, a 143% increase.

The price increase of aviation fuel has far outpaced the upstream crude oil market. On March 19, the main contract for UK Brent crude oil futures surged by 6.6% intraday, reaching a high of $112 per barrel, more than a 40% increase from before the conflict.

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