By Kit Norton
Shares of United Airlines and Royal Caribbean Group surged Friday to lead the S&P 500 as oil prices were falling dramatically as Iran declared the Strait of Hormuz completely open to commercial traffic during the the Israel-Lebanon cease-fire.
Brent crude futures, the international benchmark, fell nearly 9% to just about $90 a barrel, while West Texas Intermediate futures sank more than 9% to $82.67, putting them on track to settle below $90 for the first time since March 23, and on pace for the lowest close since March 10.
Falling oil prices resulted in a broad rally on Friday in travel stocks that have been burdened by rising fuel costs since the start of the Iran war.
United Airlines stock rose 10% to $104.90 Friday, making it the best performer on the S&P 500. Delta Air Lines surged 6.6% to $74.45 while Southwest Airlines jumped 8.7%. American Airlines also advanced 6.6%.
Airline stocks have been hit by a spike in jet fuel prices during the Iran war. Higher jet fuel prices make it difficult for airlines to generate profits, according to analysts.
Meanwhile, Royal Caribbean Group gained 9.4% to $290.54 on Friday, settling just below United in the S&P 500. Norwegian Cruise Line and Carnival rallied 9.3% and 8.9%, respectively. Viking Holdings added 5.8% to $84.99.
For comparison, the S&P 500 gained 0.7% and the Dow Jones Industrial Average advanced 1.2%.
Write to Kit Norton at kit.norton@barrons.com
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(END) Dow Jones Newswires
April 17, 2026 09:49 ET (13:49 GMT)
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