UAL is trading at $84.90 (-4.00%) as escalating Middle East tensions and a potential Strait of Hormuz blockade drive oil prices to multi-year highs.
- Brent crude has surged above $107/barrel and WTI to $96.79, prompting Jefferies to hike Q1 and Q2 fuel cost estimates by 14% and 30%, respectively.
- Airline stocks are facing heavy pressure from energy headwinds, diverging from a mixed broader market where the Dow is up 0.35% while the NASDAQ has dropped 0.57%.