Energy stocks sustain gains for third straight session as WTI jumps
Apr. 08, 2019 11:59 AM ETVital Energy, Inc. (VTLE), CPG, GTE, MEGEF, SLCA, TUSK, PUMP, CRZO, USO, XLE, OIL-OLD, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, OLO, SZOXF, OLEM, WTIU, OILK, OILX, CTRA, CPG:CA, GTE:CA, MEG:CAUCO, XLE, USO, CRZO, OIL-OLD, CTRA, DBO, USL, DTO, OLO-OLD, GTE, SCO, BNO, MEGEF, OLEM, VTLE, SLCA, CPG, OILX, OILK, TUSK, UWT, DWT, WTIU, PUMP, SZOXFBy: Carl Surran, SA News Editor29 Comments
- Energy stocks extend their three-day rally, as a dive in the U.S. dollar sparks both West Texas and Brent crude oil to five-month highs; WTI +1.5% to $64/bbl, Brent +0.8% to $70.93/bbl.
- "OPEC's ongoing supply cuts and U.S. sanctions on Iran and Venezuela have been the major driver of prices throughout this year... [but] the latest boost was received from an escalation of fighting in Libya which is threatening further supply disruption," says Hussein Sayed, chief market strategist at futures brokerage FXTM.
- Broad gainers today include LPI +8.5%%, CPG +6.5%, GTE +6%, OTCPK:MEGEF +5.5%, SLCA +4.5%, TUSK +3.4%, PUMP +3%, CRZO +3%, COG +2.5%.
- ETFs: USO, XLE, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, OLO, SZO, OLEM, WTIU, OILK, OILX