These stocks are winning on lower oil

Getty Images United Airlines jets at O'Hare International Airport in Chicago.

Getty Images
United Airlines jets at O’Hare International Airport in Chicago.

Oil prices plunged after OPEC announced that it would not be cutting production, but lower fuel costs mean good news for many major companies.

From the land, sea and air, any company that relies heavily on transport is boasting healthy gains following West Texas Intermediate’s dip below $70.

The most notable winners are the airlines, which see a significant portion of their costs go to fuel every year. In 2013 alone, U.S. carriers spent about $48.20 billion on fuel, according to the Department of Transportation.

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Given these costs, U.S.-traded airline stocks all boasted major gains in pre-market trading: United Continental, JetBlue, American AirlinesSouthwest and Delta all saw a more than 5 percent spike.

Other companies are also seeing their stocks soar on the cheap oil trade. Cruise lines Carnival and Royal Caribbean saw 2 and 3 percent gains, respectively. Competitor Norwegian Cruise Line, rose 6 percent.

Delivery services also traded higher, with FedEx and UPS each trading about 1.5 percent higher in the pre-market.

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