Montreal: Jet fuel prices have reached nearly 85 dollars per barrel — the highest level since November 2018 — mainly due to the US decision to end sanction waivers on Iran oil imports, according to the International Air Transport Association (IATA). The average monthly price of Brent crude oil and jet fuel continued to trend upwards in April, said IATA in its latest financial monitor.

“Oil prices remain under pressure as the fears of supply disruption augmented amid heightened tensions in the Middle East,” said the global trade body representing some 290 airlines which comprise 82 pc of the air traffic worldwide. The futures market still indicates oil prices to remain relatively stable for the rest of the year. The December 2019 future contracts hover around USD 69 to 70, it said.

The report showed that some 107 aircraft were delivered in the month — fewer than the 117 delivered in the same period a year ago. Altogether, the number of aircraft delivered in the first four months of this year was much lower than that was registered in the same period last year (399 versus 455).