US airline shares drop as Mideast escalation triggers flight chaos, oil spike

U.S. airline stocks fell in premarket trading as escalating conflict between the U.S., Israel and Iran disrupted global flight routes, shut key Middle Eastern hubs and sent oil prices sharply higher

Oil prices jumped 9% to their highest in months as Iran and Israel stepped up attacks

United Airlines UAL.O down 5.6%, Delta Air Lines DAL.N down 5.4% and American Airlines AAL.O down 5.7%

Southwest Airlines LUV.N down 3.8%, Alaska Air Group ALK.N falls 6%

Analysts said rising fuel prices, flight cancellations and costly rerouting were the main drag on airlines, even though most carriers have hedged a portion of their fuel needs

Dow Jones U.S. airlines index .DJUSAR down 3.3% YTD