Australian airline stocks jump as oil drop cools fuel cost worries
Tue 01:03
BUZZ-Australian airline stocks jump as oil drop cools fuel cost worries ** Stocks of Australian airlines struggling under elevated fuel costs rise on oil price drop
** Oil prices fell more than 7% overnight as talks between Iranian and Qatari officials lifted hopes for an end to the US-Israeli war with Iran and stabilization of Middle East crude supply O/R
** Qantas Airways QAN.AX top gainer in the benchmark index .AXJO, surging 6.3% and headed for its best session since June 15
** Virgin Australia VGN.AX jumps 7.3%
** YTD, VGN and QAN down roughly 24% and 10%, respectively
(Reporting by Shruti Agarwal in Bengaluru)
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