Oil Prices Hit 5-Month High, Causing Airline and Cruise Stocks to Decline

Reported 5 days ago

Oil prices surged to a five-month high due to new sanctions on the Russian oil industry, leading to a decline in airline and cruise stocks. Major airlines like Delta and American Airlines saw significant drops in their stock prices, while cruise companies such as Carnival and Norwegian Cruise Line also experienced losses. In contrast, oil producers benefited from the rise in prices, with stocks like Baker Hughes and ExxonMobil rising significantly.

Source: YAHOO

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