In the past week, crude oil prices have been soaring on the news of the first OPEC production cut since 2008. The United States Oil Fund LP (ETF) USO 3% is up nearly 10 percent in the past week, and oil stocks have followed suit.

However, rising oil prices also impact a number of other businesses as well.

Macquarie analyst Matthew Brooks believes Carnival Corp CCL 0.5%’s stock is more closely-tied to cheap oil prices than other cruise stocks are.

“On our estimates, we think the majority (98%) of CCL’s 2015 EBITDA growth was driven by cheap oil, which highlights why oil is important,” Brooks explains. Now that oil prices may be headed back above $50/bbl for good, he predicts Carnival could see some selling pressure.

Brooks believes the cruise line stocks are in the middle of a downgrade cycle, but he sees Carnival as the safest play of the group. He points…

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