JetBlue (JBLU) Stock Falls 6% After Oil Prices Rise on Hormuz Attacks

TLDR

• JetBlue (JBLU) fell nearly 6% Tuesday, the worst drop among major U.S. airlines
• Drone attacks on oil tankers in the Strait of Hormuz pushed oil prices up ~3%
• Brent crude settled at $74.16/barrel, WTI at $70.44/barrel
• JetBlue analysts expect losses per share to widen to $2.32 in 2026, from $1.64 in 2025
• American Airlines fell 3.1%, Delta dropped 3.3% on the same news

JetBlue took the hardest hit among U.S. airline stocks on Tuesday, closing down nearly 6%, with the sell-off continuing into Wednesday with another 2.88% drop in pre-market trading.

JetBlue Airways Corporation, JBLU

The drop came after a series of drone attacks on oil tankers in the Strait of Hormuz sent fuel prices sharply higher. The U.S. also revoked waivers that had allowed companies to buy and sell Iranian oil, adding more pressure to an already tense situation.

One attack struck an oil tanker about seven miles east of the Musandam Peninsula in Oman, causing what the United Kingdom Maritime Trade Operations Centre described as “minor structural damage.”

The incidents prompted a maritime group to raise its threat level to severe. Brent crude futures settled up around 3% to $74.16 a barrel. West Texas Intermediate closed at $70.44 a barrel. Prior to Tuesday, both benchmarks had fallen 22% and 24% respectively over the previous month.

For airlines, higher oil means higher jet fuel costs — and that hits JetBlue harder than most.

Why JetBlue Got Hit the Hardest

Wall Street analysts describe JetBlue as having the weakest financials among the top U.S. carriers. Losses per share are expected to grow to $2.32 in 2026, up from $1.64 in 2025.

JetBlue said last month it only expects to recover around 40% of its jet fuel costs in Q2. That leaves a lot of exposure if prices stay elevated.

Rivals have more cushion. American Airlines (AAL) and Delta (DAL) rely more heavily on premium cabin revenue and loyalty programs, which help absorb rising fuel costs. AAL closed down 3.1% and DAL fell 3.3% — painful, but nowhere near JetBlue’s decline.

Delta reports earnings later this week, and some of Tuesday’s selling may reflect investor caution ahead of those results.

Airlines Were Flying High Before This

U.S. airline stocks had been on a strong run heading into Tuesday. The U.S. Global Jets ETF (JETS) had climbed nearly 20% since the start of 2026, buoyed by strong travel demand going into summer.

JETS itself closed down 2.49% on Tuesday.

JetBlue’s situation is worth watching. It heads into the peak summer travel season with thin financial reserves, rising fuel costs, and a stock that’s now under fresh pressure.

The most recent data point: JBLU was down another 2.88% in pre-market trading Wednesday morning.

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