Airline stocks hit hard as crude oil prices spike after Saudi processing plant attacked

Shares of airline companies took hard hits on Monday, as a spike in oil prices sparked concerns about rising fuel costs. The stocks of all six air carrier components of the Dow Jones Transportation Average DJT, +0.93% declined in premarket trading: American Airlines Group Inc. AAL, +0.03% slid 4.7%, Delta Air Lines Inc. DAL, +0.96% dropped 3.5%, United Airlines Holdings Inc. UAL, +2.20% shed 3.6%, JetBlue Airways Corp.

gave up 3.1%, Southwest Airlines Co. declined 3.1% and Alaska Air Group Inc. ALK, +0.29% lost 2.3%. Crude oil futures CLV19, +10.41% shot up 10% after the weekend attack on Saudi Aramco's Abqaiq oil processing plant. The NYSE Arca Airline Index has lost 1.7% over the past three months, while the Dow transports has gained 4.9% and the Dow Jones Industrial Average DJIA, +0.14% has tacked on 4.3%.

Apples and oranges. Oil spike data pre-Trump is irrelevant to U.S. stocks. We are oil independent now. OPEC is impertinent.

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Saudi stock market dives, crude futures to jump after drone attack on oil plantsSaturday's attack is the biggest on oil infrastructure anywhere since Saddam Hussein's invasion of Kuwait in 1990. WallStJesus I show it’s down 1% rocobasilisk You don't need to burn gas anymore people, but a tesla. The model 3 is cheaper than a camry with oil and gas costs. Best car in the world Our stock market will be down..our military has shown the inability to stop drone strikes..Iran is getting more confident. Expect more in the Middle East and probably Israel.
Source: CNBC - 🏆 12. / 72 Read more »