Qantas, Virgin Australia jump as oil slips on Gulf de-escalation

Virgin Australia Holdings

27/07/2026 06:13

Updates
** Shares of Australian airlines advance as oil prices slip after the U.S. and Iran pause strikes over the weekend
** Qantas Airways QAN.AX jumps as much as 5.1% to A$10.5 apiece, on track for its best day since June 15 
** Virgin Australia VGN.AX gains as much as 7.9% to A$2.86 per share, set for its best session in more than a month
** Oil prices tumble 4% after the U.S. and Iran pause strikes after two weeks of attacks, raising hopes of de-escalation of Middle East conflict and resumption of shipping in the Strait of Hormuz O/R
** YTD, QAN and VGN down 1% and 20%, respectively
     

 (Reporting by Anjali Singh in Bengaluru)
 ((anjali.singh2@thomsonreuters.com;))