Why ExxonMobil Stock Popped, But Delta and American Airlines Dropped
Shares of oil giant ExxonMobil (NYSE: XOM) jumped 4.5% through the close of trading Monday, while Delta Air Lines (NYSE: DAL) fell 4.2% and American Airlines (NASDAQ: AAL) declined 3.9%.
It's no huge mystery why: Oil prices went up -- so airline stocks went down.
Over the course of the trading day, the price of West Texas Intermediate crude oil jumped 7.5% to $112.50 per barrel, while Brent crude oil rose 8% to close Monday at $116.60 per barrel.
Source Fool.com
