Airline shares have risen following a drop in the price of crude oil, which should reduce their costs and boost profits.
Shares in American Airlines rose 4% to $40.66 and shares in United Continental also rose 4% to $47.84. Delta Air Lines’ shares gained 3% to $39.51 and Southwest Airlines’ shares rose 4% to $30.82.
Brent oil futures fell $1.79 to $101.74 a barrel yesterday Monday after earlier climbing to more than $103.
A cooler than expected summer has lowered demand for natural gas to power air conditioning units in the US, helping to bring down the cost of fuel.
