Cruise stocks face cuts as $90 crude oil raises fuel costs and pressures 2026 earnings forecasts.

Major banks have lowered price targets for cruise stocks like Royal Caribbean and Norwegian Cruise due to rising fuel costs linked to $90 crude oil prices and weaker European bookings. Higher fuel expenses are expected to increase 2026 costs significantly, despite hedging efforts, while softer demand pressures pricing and earnings estimates. Investors will watch upcoming earnings reports for forward guidance on how these factors impact future profitability. The recent rally on ceasefire hopes is now tempered by these economic realities.