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00:02United Airlines shares traded lower Thursday afternoon as a geopolitical-driven oil spike
00:07raised concerns about airline fuel costs and margins, according to Benzinga.
00:12U.S. crude rose 6.5% Wednesday to about $79.70 per barrel, its highest level since January
00:202025, and is up about 18% for the week. The move followed escalating U.S.DOT, Israel,
00:26Iran tensions and shipping disruptions near the Persian Gulf.
00:30Hundreds of vessels were anchored while the U.S. Navy escorted tankers through the Strait
00:35of Hormuz. Higher oil prices raised jet fuel costs, which are typically an airline's largest
00:40variable expense. Airline stocks fell broadly, with the U.S. Global Jets ETF dropping more than 5%.
00:47United Airlines shares rose from $56.15 to $117.53 over the past year while trading above key
00:56moving averages, but the stock has recently fallen below $100. Shares were down by 5.03% at $95.43
01:05at Thursday's close, according to data from Benzinga Pro.
01:09For all things money, visit Benzinga.com.
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