Daily newsletter · Sat 17 Oct 2026
Brent crude touched US$110, and J.B. Hunt showed where the fuel bill ends up
Brent crude rose 3.7% on Friday to settle at US$109.86 a barrel. It briefly touched US$110, its first time there since May, and gained nearly 5% over the week.
Why did it jump? Iran stepped up attacks on shipping in the Strait of Hormuz, Houthi rebels fired missiles at Saudi Arabia, and Ukraine vowed to keep striking Russian refineries. ING's commodity team said the market is pricing in a significant risk premium.
J.B. Hunt, one of America's biggest freight carriers, has the numbers on what that costs. Its fuel bill for the September quarter was US$260.4 million, up 59% from US$164.0 million a year earlier.
Most of that was passed on. Customers paid US$670.8 million in fuel surcharges, up from US$385.6 million. That pushed revenue up 20% to US$3.68 billion, while operating income rose only 2%, to US$247.1 million.
The shares fell 2.78% on Friday to US$228.78, after the results landed on Thursday afternoon.
the surcharge line. J.B. Hunt hauls goods for retailers and manufacturers. Surcharges up 74% in a year are a cost those customers will try to pass on to shoppers in turn.
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