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Airline Stocks Fly On Opening Of Strategic Oil Reserves



June 23, 2011 – Comments (1)

This morning, the International Energy Agency (IEA) announced that its 28 member countries have agreed to release 60 million barrels of oil in the coming month. This action is causing WTI oil to plummet lower by $5.00 to $90.46 a barrel. While oil and almost every energy stock is deflating lower this morning, there is one sector which is flying higher, the airline sector.

All of the major airline stocks are rallying higher this morning. Leading airline stocks such as United Continental Holdings Inc.(NYSE:UAL), AMR Corp.(NYSE:AMR), Delta Air Lines Inc.(NYSE:DAL), and Southwest Airlines Co.(NYSE:LUV) are all trading sharply higher. Traders should follow the price of crude as the airline stocks will often trade inverse to oil.

Nicholas Santiago

1 Comments – Post Your Own

#1) On June 23, 2011 at 11:43 AM, IBDvalueinvestin (98.47) wrote:

The Oil price falling , although not showing positive for stocks today, in reality its like a Mega billion dollar per day Stimulus to the economy.

Oil retraction spells great news for consumer stocks come July.

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