BUZZ-US airlines surge as oil prices drop on two-week Iran ceasefire announcement

Reuters04-08 16:34
BUZZ-US airlines surge as oil prices drop on two-week Iran ceasefire announcement 

** Shares of U.S. airlines jump in premarket trading as crude oil prices slide after the U.S. and Iran agree to a two-week ceasefire

** The ceasefire announcement comes after more than a month of fighting that has driven up fuel costs on fears of prolonged supply disruptions

** Shares of United Airlines UAL.O up 8.8%, Delta Air Lines DAL.N up 6.8% and American Airlines AAL.O up 7.5%

** Southwest Airlines LUV.N up 8.2%, and JetBlue Airways JBLU.O up 7.7%

** The global aviation sector has been grappling with higher fuel prices, which have driven up operating costs and squeezed margins, after tensions in the Middle East disrupted the Strait of Hormuz - a key oil shipping corridor

** The Dow Jones U.S. airlines sub-index .DJUSAR down 15.7% YTD

(Reporting by Kanchana Chakravarty in Bengaluru)

((Kanchana.Chakravarty@thomsonreuters.com;))

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment