No quick fix for Asian airlines even if Iran reopens Hormuz: IATA chief

The head of a body representing global airlines said on Wednesday that even if Iran reopened the Strait of Hormuz, it would take months for jet fuel supply to recover given disruptions to Middle East refining capacity. Oil fell below US$100 per barrel after US President Donald Trump said he had agreed to a two-week ceasefire with Iran ‌that was subject to the immediate and safe reopening of the Strait of Hormuz, which normally carries about a fifth of the world’s oil trade. Iranian Foreign...