Airlines are getting a nice boost today as West Texas oil futures continue their recent slump, dropping 3.3% in recent trading to $92.15 per barrel. An increase in oil stocks, and news that Saudi Arabia is keeping production high helped pull the commodity down.
The news has not had a huge effect on oil stocks — some, including BP (BP), are even trading higher today.
But airlines are flying higher.
U.S. Airways (LCC) is leading the pack, up 7.6%. United Continental (UAL) is trading 7.1% higher, Delta Air Lines (DAL) is up 4.5%, and JetBlue (JBLU) is up 3.9%.
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