Crude oil prices fell due to the increase in the U.S. inventory.
The U.S. crude prices rose to a two-year high of $59 on Black Friday before it retreated. Since then, the price has dropped a couple of dollars from the high. The gas prices at the pumps may or may not reflect the drop of the crude prices. Typically, we see the effects of the increase immediately. The drop? Not so fast. That could still 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.
Delta’s stocks have rebounded nicely recently. Delta’s stocks were up almost 10% year to date in mid-October. Then, it gave back all of the 10% gain in just about a month. Delta’s stocks are currently up over 6% year to date.