IAG, Wizz Air and IHG lifted as oil prices tumble

Travel and leisure stocks rose after oil prices fell sharply on hopes of a US-Iran diplomatic breakthrough. The article says President Trump canceled planned strikes against Iran and said talks with Tehran would resume, easing fears of disruption to the Strait of Hormuz and global oil supply. Brent crude dropped 4.5% to just under $84 a barrel, which supported airlines and hotel operators because fuel costs are a major expense and lower energy prices can improve consumer travel demand. InterContinental Hotels Group and Whitbread also gained as investors priced in a more stable outlook for international travel. The move reflects a broader risk-on reaction in travel shares tied to lower geopolitical and energy-cost pressure.