Airline stocks struggle with fresh record-high oil prices

NEW YORK (MarketWatch) — Airline shares were gasping for air Thursday as oil prices declined only slightly from a fresh all-time high of $123.93 a barrel overnight. At last check, the Amex Airline Index added a fraction to 22.18 points with seven of its 14 components trading slightly higher. Crude oil for June delivery gained 23 cents at $123.76 a barrel in electronic trading on the New York Mercantile Exchange. Delta Air Lines fell 2% to $7.52, U.S. Airways shed 3.7% to $7.07 and American Airlines parent AMR Corp. was down a fraction to $8.52. Gaining some altitude were low-cost carriers Alaska Airlines , up a fraction to $3.42, and Southwest , up a fraction to $13.06.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Original post by Forextvblog

This entry was posted on Thursday, May 8th, 2008 at 9:43 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.