Episode Details
Back to EpisodesEurope warns of jet fuel shortages as Qantas, Virgin cut flights
Published 3 weeks ago
Description
Economists - and motorists - have been nervously watching the Brent crude oil price spike above 100 US dollars a barrel in recent weeks as the Middle East conflict continues.
It's currently sitting around 90 dollars a barrel - but it's expected to surge when markets open today.
Meanwhile, jet fuel has also seen a significant spike since the start of the war.
Last week, the International Energy Agency warned airlines in Europe may have just six weeks left of supply - as local airlines Qantas and Virgin suspended and cancelled flights as their fuel bills soar.
- Guest: Justin Wastnage, Adjunct Industry Fellow at Griffith University's Institute of Tourism
- Producer: Jason Whittaker