The Globe and Mail reports in its Thursday edition that high jet fuel prices are expected to weigh on the airline industry amid tight refining capacity, the head of the International Air Transport Association says. The Globe's Eric Atkins writes that the United States and Iran agreed to a cease-fire Tuesday and Iran agreed to open the Strait of Hormuz, which is also a major transitway for jet fuel, which has more than doubled in price and become in short supply amid the conflict. Willie Walsh, director-general of IATA, told reporters in Singapore on Wednesday the shortage of jet fuel -- and higher prices -- will persist as refineries receive new shipments of crude and boost production. Ship traffic in the waterway off the Iranian coast was light Wednesday, and hundreds of vessels were at anchor in the Persian Gulf amid industry uncertainty and reports Iran was charging millions of dollars to transit the strait. "If the ceasefire holds, I think the positive is that refined product will flow as well as crude," Mr. Walsh said. "So, the concern at the moment is around the potential shortage of the refined product of jet fuel. It will take some time for refineries outside of the region to adapt and increase the supply."