Oil price at six-month high, jet fuel rising. Airline surcharge increases "impossible" - CAPA

Oil prices have surged above USD65 per barrel to a six-month high overnight in New York - placing considerable pressure on an airline industry reeling from weak demand and steep reductions in yields. Crude prices have doubled in less than three months on some "green shoot" signs of improvement in the US economy. Crude still remains down 50% on the same level a year ago, but the global economic landscape couldn't be more different.