Overview
- Carnival shares fell 7.64% to $29.14 on Monday, reflecting weaker travel demand and rising fuel expenses tied to the Persian Gulf conflict.
- Iran said it would close the Strait of Hormuz, with reported tanker traffic down about 70% and war-risk insurance premiums up as much as 50%.
- Oil prices jumped, with WTI up roughly 6.6% and Brent up about 7.8% on Monday; JPMorgan warned prices could reach around $120 if disruptions persist, and President Trump said strikes may continue for four weeks.
- Airlines canceled flights as Gulf hubs in Dubai, Abu Dhabi, and Doha faced closures or severe constraints, stranding tens of thousands of connecting passengers.
- Carnival disclosed plans to unify its U.S. and U.K. listings into a single stock, targeting shareholder approval on April 17, while investors await a first-quarter update later this month.