The fallout from oil's surge is spreading as forecasts for crude keep rising

Group 1: Oil Price Surge - The surge in oil prices over the last three weeks is impacting the global economy as higher energy costs pressure businesses, with analyst forecasts increasing [1] - Futures on Brent crude and WTI have risen over 40% in the past month, with Brent trading over $100 per barrel and WTI in the mid-$90s [2] - Prices of refined products like gasoline, diesel, and jet fuel have also increased, affecting various market sectors [2] Group 2: Impact on Airlines - Airlines are significantly affected by rising jet fuel costs, which are one of their largest operating expenses, squeezing profitability especially for those with limited hedging [4] - Jet fuel swap prices in the US Gulf Coast have nearly doubled in the past month, reaching over $423 per gallon from approximately $229 [5] - Delta Air Lines expects an additional $400 million in costs due to jet fuel prices through March, while American Airlines anticipates a similar increase, indicating that profitability would have been achieved without the fuel price spike [5][6]