Industry officials warned that jet fuel supplies will remain tight and costly for months, even if Iran reopens the Strait of Hormuz, after damage to refining capacity across the Middle East.

Reuters – U.S. President Donald Trump's two-week ceasefire with Iran is unlikely to bring quick relief to the global aviation industry, executives said on Wednesday, even as airline shares surged on hopes the deal could ease the worst crisis airlines have faced in years.

"If it were to reopen and remain open, I think it will still take a ​period of months to get back to where supply needs to be given the disruption to the refining capacity in the Middle East," Willie Walsh, director general ​of the International Air Transport Association (IATA), warned.