Jet fuel crisis hits travel

The ongoing conflict in the Middle East has sent jet fuel prices skyrocketing, creating a crisis for the global aviation industry.

Carriers including American Airlines, United, and Lufthansa have already begun trimming their flight schedules to Europe and the Caribbean to manage rising operational costs.

Chevron's CEO warned that the situation is likely to worsen in the coming weeks as supply chains remain strained by the blockade of the Strait of Hormuz.

Travelers are being advised to book remaining flights immediately as fares are projected to increase by as much as 20%.