Oil prices seem to have stalled out around $50 a barrel on the second straight week of rising numbers of oil rigs, which threatens renewed production. The price of crude has nearly doubled since its February low, and $50 per barrel could be an important psychological barrier to stabilize production levels, holding prices for crude and jet fuel in stasis.

Large international carriers will be biggest beneficiaries of dollar weakness when second quarter results are announced. The greenback fell throughout April and has recently given back gains made in May. Any further weakness in the dollar throughout the year could provide upside surprise as the larger airlines translate international profits.