European Airlines Fall Due to Oil Price Volatility

European airline shares have fallen sharply as growing violence in Iraq marks the end of an unprecedented period of low volatility in oil prices.
Brent crude hit a nine-month high of $115 a barrel on Thursday and has risen more than 5 per cent since militants entered the Iraqi towns of Mosul and Tikrit on June 10. Although jet fuel prices have not risen as much, airline shares have responded by falling sharply. European airline shares are down 13 per cent in the same period, according to MSCI, the index provider.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza