- Airline stocks dip in early trading after a government report shows U.S. crude oil supplies stayed in a downward trend. Violence in the South Sudan has also been a recent factor in oil prices.
- Besides the prospect for higher prices for aviation fuel, the airline sector was ripe to blow off a little steam after rallying before and after the merger of American Airlines and U.S. Airways, note analysts.
- Decliners: United Continental (UAL) -3.2%, Delta Air Lines (DAL) -2.6%, Spirit Airlines (SAVE) -2.4%, JetBlue (JBLU) -1.5%, American Airlines (AAL) -1.5%, Southwest Airlines (LUV) -1.3%.
- Related Oil ETFs: USO, OIL, UCO, SCO, DBO, DTO, CRUD, USL, DBE, UHN, RJN, DNO, SZO, OILZ, UWTI, DWTI, OLO, JJE, RGRE, ONG, OLEM, TWTI, UBN.
Higher oil prices clip airline stocks
Dec 27 2013, 10:19 ET