Airlines—who has massive jet fuel bills—have been buying oil derivatives contracts to insulate themselves from the rising cost of crude oil and oil products courtesy of geopolitical tensions in the Middle East. Traders and brokers have shared with Bloomberg that they are seeing increased hedging activity since Hamas attacked Israel on October 7.
Of course, hedging would offer a layer of protection to airlines should oil prices spike to levels that high, eating into their profits, with as much as 20% of their operating expenses going towards fuel. But as Oil Price’s Alex Kimani pointed out during the pandemic, “hedging is far from a silver bullet that is guaranteed to protect anybody from volatile markets.
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