Royal Caribbean (RCL) Stock Plunges 6% Amid Oil Price Spike From Iran Crisis

TLDR Royal Caribbean (RCL) shares declined 6% below $270 as crude prices climbed toward $95–$100 following Iran’s assault on oil tankers near the Strait of Hormuz. Carnival (CCL) slid 6% while Norwegian (NCLH) dropped 2.5–4.8%, with Carnival facing maximum vulnerability due to zero fuel hedging. Iranian Revolutionary Guards issued threats to attack vessels crossing the Strait of Hormuz, which transports approximately 21 million barrels daily. RCL maintains superior positioning versus competitors — more than 50% of 2026 fuel requirements are hedged, and no surcharges will be implemented. Goldman Sachs elevated its Q4 2026 Brent projection to $71/barrel; both Brent and WTI have surged 36–39% since hostilities commenced. Royal Caribbean (RCL) shares have tumbled 6% beneath the $270 threshold, pulled lower with the entire cruise industry as crude oil prices rocket higher amid intensifying geopolitical turmoil in the Middle East. Royal Caribbean Cruises Ltd., RCL The trigger is unmistakable. Iranian forces launched strikes against two tankers in Iraqi territorial waters during the night of March 11–12, pushing the regional tally to at least 16 vessels attacked since U.S.-Israeli operations in Iran commenced February 28. Brent crude surged 8% to reach $99.29 per barrel, while WTI rose to $93.93. Both benchmarks temporarily exceeded $119 on Monday, March 9. Iran’s Revolutionary Guards escalated tensions further by declaring that any ship attempting passage through the Strait of Hormuz — a critical waterway managing approximately 21 million barrels daily, representing roughly one-fifth of worldwide oil supply — faces potential targeting. Daily tanker movements through the strait collapsed from approximately 60 vessels to merely five on March 1. “If the reduction in tanker traffic continues for a week or so it will be historic,” said Jim Burkhard, S&P Global’s head of crude oil research. With fuel representing 10–15% of cruise line revenues, prolonged crude spikes deliver...