Airlines Jump (DAL) (LCC) (AMR) (UAL) as Crude Drops

Shares of airlines United Continental (NYSE:UAL), US Airways Group, Inc. (NYSE:LCC), AMR Corp. (NYSE:AMR) and Delta Air Lines Inc. (NYSE:DAL) are all moving up big today as crude oil drops on easing tensions in the Middle East.

WTI April 11 contracts fell $0.51 to $100.91 a barrel in morning trading on the Comex.

This comes on the heels of news the Libyan Prime Minister has called for a cease fire after the announcement from the UN Security Council that it has approved a no-fly zone over Libya.

Fears have temporarily been allayed on concerns oil exports would decline as events escalated.

United Continental was trading at $22.96, gaining $0.79, or 3.56 percent, as of 11:34 AM EDT. AMR Corporation was up to $6.62, up $0.27, or 4.25 percent. US Airways Group was at $9.00, rising $0.51, or 6.01 percent. Delta Air Lines Inc. was at $10.27, gaining $0.41, or 4.16 percent.