Cruise stocks fell as oil hit a five-month high on concerns that the U.S. conflict with Iran could flare up again, with Norwegian Cruise Line Holdings (NCLH) down 6% to $14.67 and Royal Caribbean (RCL) and Carnival (CCL) each down 4%. WTI crude traded at $102.32 per barrel, raising fuel costs, which rank among cruise operators' largest operating expenses. Norwegian faces added strain from $15 billion of total debt and net leverage of 5.3x in Q2, with fuel cost per metric ton net of hedges rising to $888 from $659 a year earlier and Q3 net yield guided down 8.9% in constant currency. Still, its Q2 adjusted EPS of $0.48 beat the $0.34 estimate, and its Q3 report will show whether its cost outlook can absorb higher fuel prices.
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SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/22/2026 | 763.96 |
| Change that session | -1.18% |
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