New Delhi, June 25 -- Shares of airline operators surged on Thursday, 25 June, after crude oil prices fell to their lowest levels since before the Iran conflict, raising hopes of lower fuel costs for the aviation sector.

SpiceJet share price jumped 5.5%, while InterGlobe Aviation, the parent company of IndiGo, gained 4.7% in early trade as investors cheered the sharp decline in global crude prices.

Oil prices extended their losses for a second straight session, with Brent crude futures for August delivery falling $1.22, or 1.65%, to $72.52 a barrel, while US West Texas Intermediate (WTI) crude declined $1.02, or 1.45%, to $69.32 a barrel. Both benchmarks touched their lowest levels since 27 February.

The decline comes as concerns over ...