Asia’s Fuel Panic: Airlines Burning Cash as Oil Hits $195

Asia’s Fuel Panic: Airlines Burning Cash as Oil Hits $195

Jet fuel just did something it hasn’t done in a decade. In a matter of weeks, it doubled. Airlines across Asia woke up in mid-March facing a crisis: the Strait of Hormuz—through which nearly 20 percent of the world’s crude oil flows—was becoming a war zone, and every...