The Airlines Industry slumped Tuesday as oil futures reached an eighteen-month high Tuesday as concerns of a potential military strike in Syria has raised supply concerns. October crude futures closed at $109.01 a barrel on the New York Mercantile Exchange, while Brent futures gained 3.2 percent to close at $114.28. Although Syria is not considered a major oil producer, it is located near major pipelines and sea routes. Jet fuel is considered to be the largest expense for airlines. "If oil goes up, the price of jet fuel goes up immediately after," said analyst Bob McAdoo of Imperial Capital. "People are worried that in the short run, airlines’ earnings could be hurt."
Delta Air Lines, Inc. (NYSE: DAL) shares traded in the range of $18.85 to $19.66 Tuesday before settling to close at $19.11, a decrease of 5.72 percent. The stock appears to be facing some resistance at the $19.13 and $19.90 levels with some support at $17.92. Shares of Delta Air Lines have gained approximately 60.0 percent year-to-date.
More information on Delta Air Lines and access to the free equity report can be found at:
JetBlue Airways Corporation (NASDAQ: JBLU) shares traded in the range of $6.22 to $6.39 Tuesday before settling to close at $6.23, a decrease of 2.20 percent. The stock appears to be facing some resistance at the $6.23 and $6.33 levels with some support at $6.16. Shares of JetBlue Airways have gained approximately 9.0 percent in 2013.
More information on JetBlue Airways and access to the free equity report can be found at:
US Airways Group Inc. (NYSE: LCC) shares traded in the range of $15.33 to $16.00 Tuesday before settling to close at $15.47, a decrease of 4.57 percent. The stock appears to be facing some resistance at the $15.64 and $16.03 levels with some support at $15.33. Shares of US Airways Group have gained approximately 14.5 percent year-to-date.
More information on US Airways Group and access to the free equity report can be found at:
United Continental Holdings Inc. (NYSE: UAL) shares traded in the range of $27.32 to $29.28 Tuesday before settling to close at $27.71, a decrease of 7.20 percent. The stock appears to be facing some resistance at the $28.40, $29.31 and $29.80 levels. Shares of United Continental have gained approximately 18.0 percent in 2013.
More information on United Continental and access to the free equity report can be found at:
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