Stocks are posting solid gains near session highs. The reversal in crude prices is boosting the Amex Airline Index (+3.2%) and the Dow Jones Transportation Average (+1.0%).
Crude oil is currently trading with a loss of 2.3% at $128.01 per barrel. The sharp and unexpected 8.8 million drop in crude inventories was due to temporary delays in crude off-loadings on the Gulf Coast, according to the Department of Energy.
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