Oil at $120 Per Barrel: $22.6 Billion Wiped from Travel Sector Amid Iran-Israel Conflict

The escalating Iran-Israel conflict has triggered an unprecedented energy crisis, with     Brent Crude prices skyrocketing from $70 to over $120 per barrel     in less than a fortnight . Jet fuel prices jumped     58% in a single week    , reaching $3.95 per gallon by March 6, 2026 . The Strait of Hormuz closure halted roughly     20% of global seaborne oil supply    , reducing tanker traffic from 60 ships daily to fewer than five . Result? Over     $22.6 billion in market value wiped from the travel sector     in early March alone, with United Airlines down 4.6% and Carnival Corporation plunging 7.9% . Major hubs like Dubai International Airport faced multi-day closures, stranding tens of thousands. For Indian outbound travel, this means surging airfares, thinner margins, and an urgent need for flexible pricing and hedging strategies.

       Take for B2B Fraternity:    

$120 oil, 58% jet fuel spike, $22.6B sector loss. Agents must implement fuel surcharges, pivot to regional destinations, and revisit hedging strategies. Volatility is the new normal.