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Oil surges, stocks retreat on fears of prolonged Iran war

Oil surges, stocks retreat on fears of prolonged Iran war

Oil prices jumped Thursday with Brent crude settling above $100 a barrel for the first time since August 2022, as Iran vowed to make the United States regret launching its war against the country. The price of Brent crude surged 9.2 percent to $100.46 a barrel, while its

Lufthansa flights axed as pilots walk out

Lufthansa flights axed as pilots walk out

Lufthansa said about half its flights were cancelled Thursday as pilots from the German airline kicked off a two-day strike over pensions. The pilots' union called the second walkout in the space of a month after talks with management broke down. The airline says around 50 percent of

Cathay Pacific roughly doubles fuel surcharge on most routes

Cathay Pacific roughly doubles fuel surcharge on most routes

Hong Kong aviation giant Cathay Pacific announced new fuel surcharges for most routes Thursday that are roughly double the existing ones. The company revealed a detailed list of affected routes in a statement titled "Fuel surcharge updates", a day after warning that fuel prices had soared in March

Airlines grapple with impact of Mideast war

Airlines grapple with impact of Mideast war

Global airlines are grappling with the effects of the war in the Middle East, as fuel prices soar and customers reassess their travel plans. The war has sent the price of oil and gas soaring, after Iran's Revolutionary Guards vowed to choke off traffic in the Strait of

Cathay says surcharge to rise as fuel prices jump during Mideast war

Cathay says surcharge to rise as fuel prices jump during Mideast war

Hong Kong aviation giant Cathay Pacific said on Wednesday that fuel surcharges would rise after prices soared in March with the outbreak of war in the Middle East. The price of fuel so far this month is double the average of the previous two months, CEO Ronald Lam said at

Airlines in Asia hike fares as Mideast war raises fuel costs

Airlines in Asia hike fares as Mideast war raises fuel costs

Airlines in the Asia-Pacific region, including Qantas, Air India and Cathay Pacific, have hiked fares -- or will soon -- to factor in surging jet fuel prices spurred by war in the Mideast. The average world price of aviation fuel reached $173.91 a barrel on Monday, according to the benchmark

Cathay says surcharge to rise as fuel prices jump during Mideast war

Cathay says surcharge to rise as fuel prices jump during Mideast war

Hong Kong aviation giant Cathay Pacific said on Wednesday that fuel surcharges would rise as prices soared in March after war broke out in the Middle East. The price of fuel so far this month is double the average of the previous two months, CEO Ronald Lam announced at a