Cruise stocks jump as oil slumps, easing fuel cost pressure
24/06/2026 17:19
BUZZ-Cruise stocks jump as oil slumps, easing fuel cost pressure ** Shares of U.S. cruise operators climb as crude oil prices fall to levels last seen before the start of the war against Iran O/R
** Norwegian Cruise Line Holdings NCLH.N adds 4.1%, Royal Caribbean RCL.N jumps 5%, Carnival Corp CCL.N rises 2.6%
** Brent crude futures LCOc1 falls 3.9% to $74.03/barrel and U.S. WTI CLc1 slips 3.7% to $70.41/barrel, as supply concerns eased with more stranded oil tankers exiting the Strait of Hormuz
** Cruise operators, heavily reliant on fuel and marine gas oil, have been grappling with tougher conditions amid Middle East-driven supply fears
** On Tuesday, CCL forecast third-quarter profit below estimates, citing lingering impact from higher fuel prices due to war
(Reporting by Sudeshna Ghoshal in Bengaluru)