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Shares of airlines have ascended to a 1.1% gain, which makes for the group's fourth advance in five sessions. During that time the Amex Airline Index has climbed 4.7%. In contrast, the S&P 500 is actually down 1.5% this week.
Strength among airline stocks is largely underpinned by the pullback in oil prices, which had started the week near $107 per barrel, but are now a bit below $101 per barrel as the flow of headlines related to social unrest and political instability in the Middle East and North Africa slow.
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