IndiGo, SpiceJet shares jump over 5% as crude oil prices slip to pre US-Iran war levels

Airline stocks like IndiGo operator InterGlobe Aviation and SpiceJet rallied 5% on Thursday, June 25, as crude oil prices slipped to pre-war levels.

Crude oil prices in the global market have lost more than 8% in one week, dropping to near $72 per barrel (bbl) pre-war levels during the early market session on Thursday as investors focused on the optimism of the near-term end to the US-Iran conflict and reports of an increase in maritime trade via the Strait of Hormuz.

Data collected from Investing.com showed that the global benchmark, Brent crude oil prices, have declined 8.5% to their current levels over the last five trading sessions. The energy prices have dropped 24% in one month and 28% in the last three months.

Investors are now focused on the 60-day timeline for the United States and Iran to come up with a final peace agreement, as negotiations remain underway between the countries.

At 12:22 PM (IST), the Brent crude oil futures were trading 1.22% lower at $72.97 per bbl on Thursday’s market, compared to $73.41 per bbl at the previous market close, according to Investing.com data.

Although oil prices have dropped to their pre-war levels, investors remain cautious as they closely monitor the energy prices, as the rates are highly sensitive and linked to the developments in the West Asia negotiations.

Last month, the government had capped ATF prices for domestic airlines and approved a ₹10,000 crore jet fuel stabilisation fund to ease airline cost pressures. The decision came after a nearly 2.5-fold increase in international ATF prices, which rose from ₹60.5 per litre in March 2026 to ₹142 per litre in May 2026.

IndiGo and SpiceJet shares price trends on Thursday

Opening at ₹5,265 apiece, shares of IndiGo climbed 5% to an intraday high of ₹5,454 apiece on Thursday. At 12:18 PM, the stock was trading at ₹5,450.90 per share on the National Stock Exchange, gaining 4.68%.

SpiceJet shares, after opening at ₹12.39 apiece on BSE, have jumped 5.5% to today's high of ₹12.95. At the time of writing the piece, the scrip was trading 4.07% higher at ₹12.77 per share.

Since the beginning of the year, IndiGo's shares have climbed nearly 7%, and its market capitalisation stands at ₹2.11 lakh crore.

Meanwhile, SpiceJet, with a market capitalisation of ₹1,957.99 crore, has tanked 57.08% so far since the beginning of 2026.