US mkts end higher

CNBC's Margaret Brenan - Stocks see-sawed in and out of positive territory before ending the day higher. The Dow gained 26-points, tech stocks up 5.5-points on the Nasdaq this Wednesday.

Financial shares in crude oil prices took the fuel out of the bigger stocks gains though. Crude oil prices climbed above USD131/bbl fuelled in part by Nigerian militant group’s threats of attack.

There is a good news though high prices are pushing down demand in US. According to the energy information administration demand fell to its lowest consumption level in 5 years during the first quarter.

Exxon Mobil shareholders rejected the proposal to create an independent Chairman of the oil giant, shares of Exxon and Chevron gained on the day.

Aluminum company Alcoa was Dow’s biggest winners but insurance giant AIG was the biggest loser. AIG shares closed down more than 4%

after a Citi Group analyst said USD 20 billion may not be enough to bolster AIG’s balance sheet, shares there tumbled more than 4% and wade in the entire financial sector.

Wall Street action:
Dow ends up 46 pts, Nasdaq gains 5.5 pts
Crude climbs above $131/bbl fuelled in part by a Nigerian militant group's threats of attack
EIA says that demand has fallen to lowest consumption level in 5 yrs during Q1 in US
Citigroup analyst says $20 bn not enough to bolster AIG's balance sheets