Jet Fuel Rebounds in Europe as Iceland Volcano Concern Eases
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European jet fuel rebounded from its lowest in a week on speculation that volcanic ash from Iceland won’t disrupt air travel as much as last year’s eruption.
Jet fuel swaps rose as much 1.9 percent as airlines canceled more than 250 flights and U.S. President Barack Obama curtailed his visit to Ireland after ash drifted over the northern U.K. Particles from the Grimsvötn volcano were more dense and would not remain in the atmosphere as long as those from the Eyjafjallajökull blast in April 2010, which grounded 100,000 flights, according to a forecast from New-York-based researcher Weather 2000, Inc.