Airlines, cruise lines rise as oil prices ease

Travel stocks are climbing on Tuesday, with West Texas Intermediate crude futures down more than 3.4% as of 3 p.m. ET, largely on traders’ hopes for an improving situation with Iran.

The New York Times reported that American officials think Iran could agree to a 15-year suspension of uranium enrichment. Crude futures had spiked briefly on Tuesday following President Trump’s Truth Social post that the US must respond to the downing of a US Apache helicopter by Iran, but prices remain lower on the day, boosting US travel stocks.

Shares of Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, and JetBlue were all up at least 4% an hour before market close. Cruise lines Carnival, Norwegian, and Royal Caribbean were similarly up. Travel companies have been rocked by higher fuel costs in the months since the war in Iran began.

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