U.S. airline stocks gain 3%–7% as Brent crude falls below $74 a barrel

On June 24, Brent crude futures fell below $74 a barrel as tensions involving Iran eased and tanker traffic through the Strait of Hormuz resumed. International Air Transport Association data show average jet fuel prices slid from a February peak above $170 a barrel to $119.17 a barrel in the week to June 19. The drop lowers airlines’ biggest cost, but it has not fed through to ticket prices.