Airlines stocks moved lower in the pre-market session following a spike in crude oil prices, which surpassed $86 per barrel. This surge is attributed to rising geopolitical tensions in the Middle East, specifically an exchange of strikes between the U.S. and Iran. Higher jet fuel costs are a significant expense for carriers, putting pressure on profit margins even as companies are not expected to pass the full cost on to consumers. The broader market also opened lower amidst these concerns and expectations of further interest rate hikes.