BUZZ-US carriers fall as oil rises on Strait of Hormuz worries
JETS•U.S. carriers fall as oil prices jump
Shares of U.S. carriers fell as oil prices jumped almost 2% on Monday after Iran insisted the U.S. satisfy several demands before reopening the Strait of Hormuz.
Brent crude futures climbed 3% to $86.05/barrel, while U.S. West Texas Intermediate crude advanced 3.1% to $80.62/barrel.
Airline stocks across the sector decline
Shares of JetBlue and Frontier were down over 5%, while Delta Air Lines fell 1.5%.
American Airlines, United Airlines, Southwest Airlines, and Alaska Air were down 2%-4%.
Including the session's moves, the S&P Composite 1500 passenger airlines index was up about 17% year to date.
