[Edaily Reporter Kim Kyung-eun] As international oil prices plummeted following the ceasefire agreement between the U.S. and Iran, airline stocks are rallying in tandem.
According to MP Doctor on the 15th, as of 9:18 a.m. today, #JejuAir is trading at 5,580 won, up 1,240 won (28.57%) from the previous trading day.
At the same time, #T'way Holdings (24.37%), #Trinity Air (22.69%), #Jin Air (16.70%), #Air Busan (14.45%), #Asiana Airlines (9.62%), and #Korean Air (9.40%) are all on the rise.
This is interpreted as a result of the sharp drop in international oil prices following the end-of-war agreement between the U.S. and Iran. When oil prices fall, airlines’ fuel costs decrease, raising expectations for improved profitability.
U.S. President Donald Trump posted on the social media platform Truth Social around 5:30 p.m. Eastern Time on the 14th, stating, “An agreement with Iran has just been finalized.”
Reuters and AFP reported that Kazem Gharibabadi, Iran’s Deputy Foreign Minister, said in a TV interview that a “permanent and immediate ceasefire has been declared on all fronts, including Lebanon,” regarding the war with the U.S.
Brent crude, the global benchmark, fell 3.9% to $84 per barrel, while U.S. West Texas Intermediate (WTI) crude dropped 4.8% to trade at around $81 per barrel.
(Photo: Blind)
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