U.S. Global Jets ETF is trading 5.3% up today as crude prices drop sharply following a tentative 60-day U.S.-Iran peace agreement and the reopening of the Strait of Hormuz.
- Lower fuel-cost expectations are significantly boosting profitability assumptions for airlines and related industrial sectors.
- The move aligns with a broader risk-on rally in U.S. equities and cyclicals as concerns over inflation and interest rate hikes begin to ease.