The airline sector experienced a significant downturn, with the JETS ETF falling over 2%, largely attributable to a sharp increase in crude oil prices. Brent crude surpassed $92 a barrel and WTI crude rose above $85, primarily driven by escalating geopolitical tensions in the Middle East and concerns about low U.S. strategic petroleum reserves. This surge in oil prices directly impacts jet fuel costs, a major operational expense for airlines, raising concerns about profitability and pressuring stock valuations.