A dramatic surge in jet fuel prices could push up costs for air travellers ahead of the summer holidays and even lead to flight cancellations, analysts have warned.

US Treasury Secretary Scott Bessent said the addition of sanctioned Iranian oil into global supplies would help keep oil prices down for the next 10 to 14 days.

The attacks came a day after Israel pledged to refrain from more strikes on a key Iranian gas field and Iran intensified attacks on oil and natural gas facilities around the Gulf.