U.S. airline stocks rose 3% to 7% as Brent crude fell below $74 a barrel, easing concerns over fuel costs after a recent spike tied to the Iran war. The S&P 500 Passenger Airlines index jumped as much as 5% to a record high and has gained nearly 13% since June 12, outperforming the broader S&P 500, which is down 0.5% over the same period. Analysts said lower oil prices and resilient travel demand are improving the earnings outlook for carriers, with UBS saying third-quarter earnings per share could beat Wall Street expectations if fuel prices continue to moderate. American Airlines rose about 7%, Alaska Air and United climbed about 6% each, JetBlue gained 4.5%, Delta rose 3.7%, and Frontier and Southwest added 3% each. Cheaper jet fuel may not immediately translate into lower fares because airline capacity remains tight.