United Airlines prepares for oil to reach $175 a barrel

The airline’s CEO says the US company is also preparing for oil to not return to $100 a barrel until the end of next year.

Scott Kirby said in a message to United employees that jet fuel prices, which have more than doubled over the last three weeks, would cost the airline $11bn a year if they remain where they are now.

The price of Brent crude has zigzagged from roughly $70 per barrel before the US and Israel launched the war on Iran to as high as $119.50 this week.