The price of oil is almost immaterial at this point, it's the crack spread that is the big news. Jet A is almost at $5 here in the US.

Lufthansa is parking jets

https://finance.yahoo.com/sectors/en...162028880.html

We're above the level we were in 2022 with far more capacity in the system. The disruption exceeds the 1973 and 1979 energy crisis combined.