Crude oil prices continued to rally.
The U.S. crude prices rose to a two-year high of $58 right before the holidays. It’s currently just 27 cents shy of $59. The gas prices at the pumps will soon reflect the escalation of the crude prices if they haven’t already. That could mean an extra $5 to $10 expense on gas per car per household per month. If you are the type of the monthly budgeted type of a person, something has to give from the budget because the crude prices are on the rise.
If you own stocks in the airlines sector, watch them closely.
As expected, Delta, for example, drifted lower today as the crude prices rose to a 2-year high. Delta’s stocks were up almost 10% year to date in mid-October. Now, it’s almost given back all of the 10% gain in just about a month. Delta’s stocks are currently up slightly over 2% year to date.