UAL is trading at $86.02 (-6.57%) as soaring crude oil prices and geopolitical instability hammer the airline sector.
- Crude oil prices have climbed past $120 per barrel, driven by the U.S.-Israel-Iran conflict and production cuts, leading to a spike in jet fuel costs.
- CEO Scott Kirby warned of potential fare hikes to mitigate expenses, but the stock is sliding alongside peers like DAL.
- The decline comes amid a broader market selloff, with the S&P 500 down 1.24% as investors weigh the impact of regional instability.