Topic “oil price” — Exporter Magazine

Australia’s Qantas Airways has announced a hike in fuel surcharges on international routes, for the third month in a row, in response to continuing rises in oil and jet fuel prices, according to the Shipping Gazette. HSBC economist Simon Williams told Gulf News that employment continues to be weak in the United States and in Europe while rising commodity prices erode disposable income and that’s a real threat to a recovery that looks fragile in most of the western world. IATA raised its average oil price forecast to $96 per barrel, up from $84 in December, factoring in the impact of fuel hedging which is roughly 50% of expected consumption.