I think the high oil price is not helping (that sound weird??)....

I think the high oil price is not helping (that sound weird??). But bare with me. The mark to market loss on the hedges they hold for oil will be huge if the opil price remains where it is on 30 June.

A non-cash item, sure, but without looking into the actual numbers to confirm I imagine at current prices the dollar value will be around the $20 million mark.