American Airlines most at risk for rising jet fuel costs
Live Blog Update #1 Published
According to Rothschild & Co. Redburn, American Airlines is most at risk with rising jet fuel costs.
As noted by the firm, “Putting all this together, we see downside risk to estimates as higher jet fuel prices are incorporated into our forecasts. With the greatest sensitivity to fuel prices, we see most risk for American and now forecast negative EPS this year,” as quoted by CNBC. The firm now has a neutral rating on the AAL stock from a buy rating.
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U.S. crude oil just spiked to $79.18, which won’t be good for pump prices.
All after Iran claimed to have attacked a tanker, as reported by the Tasnim News Agency.
According to the report, “The Islamic Revolution Guards Corps Navy said it has struck an American oil tanker in the northern parts of the Persian Gulf with missile. The missile attack on the American oil tanker was carried out by the IRGC Navy servicemen early Thursday, while the target is currently on fire. The IRGC said it had previously warned that according to international law and regulations, during wartime, the navigation rights through the Strait of Hormuz will be under the control of the Islamic Republic of Iran.”
It’s adding tension to the Strait of Hormuz, where 20% of global oil is exported.
Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.
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