Airlines hike fares as Middle East conflict sends fuel costs soaring

Oil markets are experiencing sharp volatility as traders try to interpret conflicting signals about the impact of the escalating United States-Israel war with Iran on global energy supplies, with the turbulence already rippling through the aviation industry.

Airlines across Asia and the Pacific are raising ticket prices and introducing or increasing fuel surcharges as jet fuel costs surge and concerns grow about possible supply shortages if the conflict intensifies.