Oil Continues Hot Trend

Crude-oil (NYSEARCA:USO) futures gained again on Tuesday for the sixth time in a row as unrest in Iran incited concerns about global oil supplies and some positive economic data from the U.S. brightened prospects for oil demand. Oil for delivery in February increased $1.66, or 1.7 percent on the New York Mercantile Exchange, to $101.34 a barrel. This is the highest settlement price for a most-active futures contract since Nov. 16.

In six sessions, prices have risen 8.4%. Jason Schenker, president of Prestige Economics said, “The Iranian statements threatening a close of [the Strait of] Hormuz are a big driver of prices today,” while increased U.S. consumer confidence for December plays a much smaller role. “The U.S. growth story remains one of modestly improving U.S. economic growth prospects.”

Here’s how Big Oil stocks closed on the news:

Exxon Mobil Corp. (NYSE:XOM): XOM shares recently traded at $85.28, up $0.06, or 0.07%. They have traded in a 52-week range of $67.03 to $88.23. Volume today was 10,133,318 shares versus a 3-month average volume of 22,450,400 shares. The company’s trailing P/E is 10.30, while trailing earnings are $8.28 per share.

Chevron Corp. (NYSE:CVX): CVX shares recently traded at $107.98, up $0.48, or 0.45%. They have traded in a 52-week range of $86.68 to $110.01. Volume today was 4,128,704 shares versus a 3-month average volume of 9,827,810 shares. The company’s trailing P/E is 8.00, while trailing earnings are $13.50 per share.

BP plc (NYSE:BP): BP shares recently traded at $43.14, down $0.14, or 0.32%. They have traded in a 52-week range of $26.75 to $52.00. Volume today was 2,257,049 shares versus a 3-month average volume of 8,810,120 shares. The company’s trailing P/E is 5.97, while trailing earnings are $7.22 per share.

Halliburton Company (NYSE:HAL): HAL shares recently traded at $34.14, up $0.34, or 1.01%. They have traded in a 52-week range of $27.21 to $57.77. Volume today was 7,532,286 shares versus a 3-month average volume of 19,858,800 shares. The company’s trailing P/E is 12.38, while trailing earnings are $2.76 per share.

Schlumberger Limited (NYSE:SLB): SLB shares recently traded at $68.60, down $0.54, or 0.78%. They have traded in a 52-week range of $54.79 to $95.64. Volume today was 4,296,923 shares versus a 3-month average volume of 11,070,200 shares. The company’s trailing P/E is 20.28, while trailing earnings are $3.38 per share.

To contact the reporter on this story: Gina Smith at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com