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00:02Southwest Airlines' shares fell in pre-market trading Thursday after global oil prices
00:07surged as the U.S.-Iran war entered its 13th day, according to Benzinga.
00:11Brent crude topped $100 per barrel, and WTI Futures approached $95 as geopolitical tensions
00:19continued, according to Trading Economics. Attacks continue in the U.S.-Iran war,
00:24while Energy Secretary Chris Wright said the U.S. will release 172 million barrels from the
00:30Strategic Petroleum Reserve to ease rising fuel costs. Rising fuel prices pressure airline
00:35profitability because jet fuel remains a major operating expense. Trader Peter Brandt warned
00:41on X that oil price moves could create major challenges for airlines. Southwest traded 16%
00:47below its 20-day, simple moving average and about 0.2% above its 100-day average.
00:53Shares were down 2.21% at $40.75 in pre-market trading on Thursday, according to Benzinga Pro.
01:01For all things money, visit Benzinga.com.
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