Delta Air Lines (DAL) Stock Plunging on Higher Oil Prices, Negative Travel Industry Report

NEW YORK (TheStreet) -- Shares of Delta Air Lines (DAL) are plunging 4.41% to $44.17 in Tuesday's afternoon trading due to higher oil prices today.

Following two days of decline, oil prices rose after Japan, one of the major importers of crude oil, announced that its economy was strengthening, surprising markets. Similarly, improving consumer confidence in Australia led to renewed hope that demand for oil may begin to increase, Reuters reported.

Crude prices have also risen on expectations that the U.S. oil boom will slow down and bring the oversupplied global market into balance, The Wall Street Journal reported.

With higher oil prices negatively impacting airline stocks, Delta has also been getting heat elsewhere. A group of travel websites including TripAdvisor (TRIP), Hipmunk and ChipOair alleged the carrier cut them and their users off from its data, according to a report released on Wednesday by the Travel Technology Association.

Released by the industry's trade group, the report states that Delta's move is part of a broader push by airlines to restrict how travel websites can use their fare and schedule information. For example, carriers like American Airlines Group (AAL) and United Continental Holdings (UAL) have already adopted policies recently to restrict others from using their flight information.

Citing concerns about how pulling data from the travel websites would affect the way consumers shop for flights on the Internet, the association said that approximately 44% of travelers booking through online sources typically shop at an online travel agency website or a meta search travel site to compare different prices and schedules.

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