Airline, Cruise Stocks Slip as Oil Jumps After Trump Address

By Connor Hart

Airline and cruise stocks fell as oil prices jumped, after President Trump's prime-time address failed to assuage investors' concerns regarding the war in Iran.

Trump said late Wednesday that he was still seeking a diplomatic agreement to end the conflict. The lack of a clear timeline damped hopes the war might come to a speedy end and the Strait of Hormuz could open soon, allowing oil to once again flow freely from the Persian Gulf to world markets.

Adding to the angst in energy markets, Trump suggested again that opening the strait was a problem for other countries. Oil prices jumped around 8%, sending benchmark Brent crude futures back above $109 a barrel.

Higher oil prices have sent airlines' and cruise operators' fuel costs surging. Airlines have begun raising fares, adding baggage fees and dialing back routes to cover the higher costs, while cruise lines have warned that the higher costs would dent earnings.

Shares of Delta Air Lines recently fell 4.4%, to $64.60, in premarket trading Thursday. United Airlines' stock was down 4.5%, to $90.80, and American Airlines' was off 4.6%, at $10.62.

In cruises, meanwhile, shares of Carnival declined 4.1%, to $25.49. Royal Caribbean's stock slipped 3.8%, to $271.26, while Norwegian Cruise Line's fell 4%, to $18.61.

The declines were steeper than those of broader stock futures. Nasdaq-100 futures dropped 2%, while futures tied to the S&P 500 and the Dow industrials also pointed to sharp falls at the open.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

April 02, 2026 09:41 ET (13:41 GMT)