Royal Caribbean (RCL), Viking (VIK) Soar as Crude Oil Tumbles on Iran Peace Deal Hopes

Shares of cruise operators including Royal Caribbean Group (RCL) and Viking Holdings (VIK) surged on Monday, May 26, 2026, after U.S. crude oil futures tumbled 4.7% to $92.94 a barrel as progress in Iran-U.S. nuclear talks raised hopes for easing geopolitical tensions. The decline in crude directly lowers fuel costs—a major expense for cruise lines—and makes vacation financing cheaper for consumers. Viking added to gains, hitting a 52-week high, after earlier reporting first-quarter 2026 revenue of $1.05 billion, a 17.5% year-over-year increase that beat analyst estimates. Adjusted EBITDA rose to $104.8 million, with operating margin swinging to positive from a loss a year ago. The Conference Board’s May survey showed an uptick in consumer vacation plans and hotel spending, signaling that travelers are prioritizing experiences despite tighter budgets. Viking shares have risen over 22% this year.