Hong Kong, March 10 -- The price of crude oil has jumped above US$100 a barrel amid the ongoing conflict in the Gulf region as market watchers express concern the Israel-US war with Iran will lead to energy shortages around the world. Read More The price of Brent crude, which the international market uses as a benchmark for oil prices, has risen about 30% over the past five days and peaked at close to US$120 a barrel yesterday (March 9). Fuel represents the largest single cost for airlines and accounts for anywhere between 20% and 30% of operating expenses. "The conflict in the Middle East that escalated on 28 February 2026 has severely disrupted global energy flows, exposing deep vulnerabilities in jet fuel security," the International Air...