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Airline stocks decline before market open United Airlines(UAL.US) drops more than 7%
On Monday, airline stocks declined in pre-market trading. As of the latest report, United Airlines (UAL.US) fell over 7%, American Airlines (AAL.US) dropped more than 6%, and Delta Air Lines (DAL.US) declined 6%. In the news, the situation in the Strait of Hormuz suddenly escalated. Goldman Sachs research team assessed that the oil tanker sector is likely to be the biggest beneficiary of this geopolitical conflict, while airlines, due to their exposure to fuel costs, are the most affected within the transportation sub-sectors they cover, with profits most significantly impacted by rising oil prices.