Surging oil prices linked to the escalating war with Iran have rattled energy markets, jumping over 9% and threatening the profitability of U.S. airlines. With fuel hedging largely abandoned, many carriers are now exposed to sudden cost spikes, leaving only a small group able to remain profitable.

In the face of tension, the shipping industry trusted that Iran would act in its own best interest by keeping the Strait of Hormuz open—a prediction that proved accurate. Cool-headed decisions have ensured uninterrupted passage through this vital waterway.