United CEO Expects Sharp but Brief Surge in Airfares From War -- WSJ

Dow Jones03-11

By Dean Seal

The increase in oil prices stemming from military strikes in Iran will temporarily crank up flight prices, but fares should normalize as the fighting settles down, according to United Airlines Chief Executive Scott Kirby.

Kirby said Tuesday that fuel makes up a huge percentage of United's costs, so airfares climb when when fuel prices jump. "But they also come down, by the way, when fuel goes back down," he said in an interview. "That will happen too."

Benchmark U.S. crude futures peaked at nearly $120 a barrel on Sunday night, their highest level since 2022. By Tuesday, oil futures closed at $83.45 a barrel, marking the steepest one-day drop in four years. The swing shows the market thinks the conflict could be resolved in short order and oil prices will fall, Kirby said.

"My personal assessment is that this lasts a few more weeks and then the Strait of Hormuz opens up again," he said. "Oil prices start to get back to normal and we're in a world where we're in a surplus."

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

March 10, 2026 18:53 ET (22:53 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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By Tuesday, oil futures closed at $83.45 a barrel, marking the steepest one-day drop in four years. The swing shows the market thinks the conflict could be resolved in short order and oil prices will fall, Kirby said. \n\n\n     \"My personal assessment is that this lasts a few more weeks and then the Strait of Hormuz opens up again,\" he said. \"Oil prices start to get back to normal and we're in a world where we're in a surplus.\" \n\n\n       This item is part of a Wall Street Journal live coverage event. 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