Cruise operators jump as crude slips
XLY•Shares of U.S. cruise operators rose as oil prices fell from five-month highs. Brent was down 1.1% at $108.32 and WTI fell about 0.9% to $102.74, while Carnival, Norwegian Cruise Line, Viking and Royal Caribbean gained 3.3% to 3.7%.
1. Cruise shares rise
Carnival and Norwegian Cruise Line shares rose 3.4% and 3.7%, respectively, while Viking Holdings gained 3.6% and Royal Caribbean rose 3.3%. Brent crude futures fell 1.1% to $108.32 and WTI futures declined about 0.9% to $102.74. Fuel is one of the largest operating expenses for cruise operators.
