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. Earnings calls within the airline industry have backed up what those traders and brokers are seeing, with confirmation of extra hedging—particularly in increased call options, which would…
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