Oil price heads above $120bbl

The price of Brent Crude oil hit $120 a barrel (bbl) today but is now hovering around the $116bbl level. Oil has continued to rise with concerns over Russian supplies and continuing tightness in refined fuel markets. Jet 1 A price today is around $147.7bbl or $3.41 per gallon. The upwards trajectory is expected to continue has traders bet on any outcome from the EU on Russian oil restrictions or even an embargo. Adnan Kazim, chief commercial officer of Emirates, has commented that jet fuel costs are at a level that is “way above” what airlines can manage and warns