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Australian airline stocks jump as oil drop cools fuel cost worries

By Reuters News

** Stocks of Australian airlines struggling under elevated fuel costs rise on oil price drop

** Oil prices fell more than 7% overnight as talks between Iranian and Qatari officials lifted hopes for an end to the US-Israeli war with Iran and stabilization of Middle East crude supply O/R

** Qantas Airways QAN.AX top gainer in the benchmark index .AXJO, surging 6.3% and headed for its best session since June 15

** Virgin Australia VGN.AX jumps 7.3%

** YTD, VGN and QAN down roughly 24% and 10%, respectively

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