American Airlines shares fell 4% on Monday, tracking broader travel stocks, which declined amid escalating conflict in the Middle East and rising crude prices.
HOUSTON – In a dramatic shift of market leadership, the energy sector has surged to unprecedented heights this week, with the Energy Select Sector SPDR Fund (NYSE:XLE) punching through long-standing resistance to hit an all-time high of $108.42. The rally comes as crude oil prices climb toward the $100
The President added that while the U.S. has projected a timeline of four to five weeks for the Iran mission, the country has the capability to extend it far longer.
During an interview with CNBC, Eisman downplayed the impact of the Iran conflict, stating that it could be “very, very positive” in the long term for equity markets.
The analyst stated that the escalation of tensions in the Middle East is “unlikely to stick for long” due to political calendars, with the U.S. midterm elections slated for November 2026.
The benchmark ETF is testing a critical technical breakdown. The move follows a sharp global selloff as escalating tensions in the Middle East sent oil prices soaring.
Brokerages see oil trading between $80 and $90 near-term, with prices potentially higher if disruptions persist, while U.S. gasoline may climb toward $3.10- $3.25.
Temperatures are projected to remain above normal in the Midwest and Southern U.S. through February 18, according to a Bloomberg report citing the Commodity Weather Group.
OPEC’s exports account for nearly 50% of all the world’s crude exports, and the organization and its allies hold almost 80% of the world’s oil reserves.
