Oil's surge to $100 per barrel has led to a decline in major U.S. airlines' shares, Delta Air Lines (DAL), United Airlines Holdings (NASDAQ:UAL), and American, sending them down through key technical support levels. The Iran war has increased travel risk across the sector, impacting airlines' ability to adjust. All three airline stocks are below their 20, 50 and 200-day moving averages. WTI crude oil has risen by 55% over the past month and sits at its highest levels since 2022. To protect margins, airlines are already increasing fares and reducing capacity on some long‑haul and Middle East‑adjacent routes.