Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Oil Stocks Catching Up With Crude Oil Rally

Published 2018-05-14, 09:45 a/m
Updated 2018-05-14, 09:45 a/m

Investing.com - The long awaited rally in oil stocks has finally arrived.
The popular SPDR S&P energy exchange traded fund is up 16% in the past month and 9% for the year, as stocks finally catch up with the year-long rebound in the crude oil market. Suddenly, the oil sector is outperforming the broader market, rather than vice versa.
The oil sector rally has been broad-based, lifting production and refining companies as well as equipment and service ones.
Even industry giant Exxon Mobil (NYSE:XOM), whose stock has slumped for much of the past year, is up 7% in the past month.
The rally in stocks is reflected in the sector's most recent earnings, which almost doubled from a year ago. Profits have been driven by booming U.S. shale oil production and the strong global economy. 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.