Signs of Jet Fuel Hoarding Emerge in Asia on Iran Oil Shock

Signs are growing that Asian countries are hoarding jet fuel after the Iran war sent oil prices surging, reflecting growing strain on the aviation industry.

South Korean carriers got notified about refueling restrictions from some countries and the government is discussing whether to redirect export-bound jet fuel to the local market, the nation’s transport ministry said in a statement to Bloomberg on Wednesday. Philippine Airlines Inc.’s president said in an interview that the Southeast Asian nation may soon resort to fuel rationing. In Vietnam, the aviation agency warned of potential jet fuel shortages from early April and is cutting flights as a result.