It's a safe bet that before a few weeks ago, not a lot of us would have been able to name the Strait of Hormuz, let alone point to it on a map – but now that it's become one of the biggest geopolitical headaches on the planet (and the reason petrol prices are skyrocketing), suddenly that unassuming body of water is a household name.

More pressingly for aviation, of course, is the fact that the conduit for a fifth of the world's oil has been choked off, meaning jet fuel is suddenly harder to come by. Airlines are raising costs and slashing services to compensate, and there are worried noises from some corners about how much exactly we have in reserve – so, how concerned should we be, exactly?

On this week's Australian Aviation Podcast, Jake and David drill into the Middle East oil crisis, how it's affecting Australian airlines, and whether sustainable aviation fuel might help safeguard against future shocks.

Plus, the first report is out into slot usage at Sydney Airport – so are the big airlines really "gaming the system"?