U.S. airline stocks surge as Iran says Hormuz is open

Investing.com -- Shares of major U.S. airlines traded sharply higher in premarket trading on Friday after Iran announced the Strait of Hormuz would remain open to all commercial shipping for the duration of the Lebanon ceasefire.

American Airlines rose 5.7%, while United Airlines added 5.8% and JetBlue climbed 5.6%. Delta Air Lines gained 5.7% and Southwest Airlines was up 4.1%.

Iran's Foreign Minister Abbas Araghchi wrote on X that passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of the ceasefire, on the coordinated route as already announced by the Ports and Maritime Organisation of the Islamic Republic of Iran.

The announcement sent crude oil WTI futures roughly 10% lower, trading just above $85.

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