Trucking Stocks Gain on Cease-Fire With Iran, Falling Oil Prices

Dow Jones04-08

By Elias Schisgall

Shares of trucking companies rose Wednesday after the U.S. and Iran agreed to a two-week cease-fire, triggering a historic retreat in oil prices.

XPO was up 7.3%. Knight-Swift Transportation Holdings rose 5.9%. J.B. Hunt Transport Services gained 4.6%. Landstar System was up 3.3% and FedEx gained 3.7%.

President Trump said on Tuesday that the U.S. would halt attacks on Iran, subject to the immediate reopening of the Strait of Hormuz. The effective closure of the strait had skyrocketed oil prices.

Oil futures plummeted Wednesday following the announcement of the cease-fire. Brent Crude was trading down 16% at $92.18 as of Wednesday morning.

There are still important uncertainties around control over the Strait of Hormuz, with Iran signaling that it would still have to grant permission for ships crossing the waterway. Trump said the cease-fire was subject to a "complete, immediate and safe" reopening of the strait.

But the prospect of an extended reopening of the strait may bring some relief to trucking companies who have had to grapple with higher fuel costs since the beginning of the war.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

April 08, 2026 10:27 ET (14:27 GMT)

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

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Knight-Swift Transportation Holdings rose 5.9%. J.B. Hunt Transport Services gained 4.6%. Landstar System was up 3.3% and FedEx gained 3.7%. \n\n\n  President Trump said on Tuesday that the U.S. would halt attacks on Iran, subject to the immediate reopening of the Strait of Hormuz. The effective closure of the strait had skyrocketed oil prices. \n\n\n  Oil futures plummeted Wednesday following the announcement of the cease-fire. Brent Crude was trading down 16% at $92.18 as of Wednesday morning. \n\n\n  There are still important uncertainties around control over the Strait of Hormuz, with Iran signaling that it would still have to grant permission for ships crossing the waterway. 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