WS #16184
Brent crude oil retreated 1.13% to $108.31 after Secretary Rubio indicated that traffic through the Strait of Hormuz is normalizing, easing immediate supply disruption fears. This geopolitical de-escalation is triggering a sector rotation, with airline stocks rallying on the prospect of lower fuel costs, although WestJet's bonds remain under pressure from broader trade tensions and structural cost issues.
Oil De-escalation & Airline Rally
Brent crude oil retreated 1.13% to $108.31 after Secretary Rubio indicated that traffic through the Strait of Hormuz is normalizing, easing immediate supply disruption fears. This geopolitical de-escalation is triggering a sector rotation, with airline stocks rallying on the prospect of lower fuel costs, although WestJet's bonds remain under pressure from broader trade tensions and structural cost issues.