Worldwide air cargo prices increase due to disruptions in the Middle East.

Global air freight rates saw a rise last week due to disruptions from the Middle East conflict, with the Baltic Air Freight Index increasing by 2.6% but remaining 0.7% lower year-on-year. Rates surged on routes from Asia to Europe and India, driven by a significant gap between crude oil and jet fuel prices. In Asia, Hong Kong and Shanghai experienced steady increases, while India saw a 30% surge in rates. Europe noted higher rates to the UAE and other destinations, though some Transatlantic routes declined. In the US, rates varied, with increases to Europe and South America but declines to parts of Asia.