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Story summary
- Saudi Arabia is increasing crude exports from the Yanbu terminal due to Gulf shipping bottlenecks, with loadings above 2.5 million barrels per day last week and potentially 4.8 million.
- UBS Group AG analysts warn that high fuel costs will disproportionately affect low-cost carriers, which may need to cut capacity.
- Jet fuel at about $4 per gallon could squeeze earnings for Delta Air Lines and United Airlines, with bigger losses anticipated in Q2.
