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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on June 13, 2025

    Featured image for article about Headlines

    (Reuters) -Global airline stocks tumbled in premarket trading on Friday as Israel's widescale strikes on Iran drove a more than 9% surge in oil prices and prompted carriers to clear out the airspace over Israel, Iran, Iraq and Jordan.

    Travel and leisure stocks also fell as Iran's retaliation raised fears of supply disruption at the Strait of Hormuz, a crucial global chokepoint for about a fifth of the world's total oil consumption.

    Iran has in the past threatened to close the strait for traffic in retaliation to Western pressure.

    "If oil is caught in the crossfire, we anticipate that President Trump will seek OPEC spare barrels to try to keep a lid on prices and shield US consumers from the economic impact of the Middle East conflict" RBC analyst Helima Croft said.

    Meanwhile, carriers scrambled to divert and cancel flights to keep passengers and crew safe, Flightradar24 data showed.

    Shares of European airlines, Lufthansa fell almost 5% on the Tradegate platform, while Air France-KLM and EasyJet were down as much as 4%.

    U.S.-based airlines Delta, American and United slid between 4% and 5% in premarket trading.

    Concerns of a prolonged disruption gripped the travel industry too.

    Shares of cruise operators such as Norwegian Cruise Line and Carnival Corp, were down between 3% and 4%, while online travel agencies Booking Holdings and Expedia were down about 1.5%.

    Conflict-driven uncertainties lifted crude prices by about 9%, boosting shares of U.S. oil majors Exxon Mobil and Chevron more than 3% in premarket trade.

    Stocks of top oilfield services companies SLB, Halliburton and Baker Hughes jumped between 4% and 5%.

    (Reporting by Amanda Cooper in London, Tristan Veyet in Gdansk, Arunima Kumar and Aishwarya Jain in Bengaluru; Editing by Alun John, Arpan Varghese)

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