These Oil and Gas Stocks are in a Strong Upward Trend Now
It has been one year since the explosion of British Petroleum’s (NYSE:BP) deep water drilling rig (NYSE:RIG) … and Oil and Gas companies are celebrating. Oil gained 2.86 percent or $3.10 to $111.38 per barrel, while ETF United States Oil Fund LP (NYSE:USO) is up 3 percent to 44.25.
The Energy Information Administration foresees crude oil prices remaining above $100 for next two years — and most investors agree. A year after the BP (NYSE:BP) tragedy, here’s how Oil & Gas companies are trading today:
Exxon Mobil Corporation (NYSE:XOM) is up 2 percent to $85.45, Marathon Oil Corporation (NYSE:MRO) has gained 3.8 percent to $53.18, Suncor Energy Inc (NYSE:SU) has surged 3.1 percent to $44.63, Chevron Corporation (NYSE:CVX) has advanced more than 2 percent to $107.76 while ConocoPhillips (NYSE:COP) is up 2.33 percent to $79.96 in today’s session.
Investors are also optimistic about the Oil & Gas Services Industry (NYSE:OIH). Halliburton Company (NYSE:HAL) has surged by 1.2 percent to $49.62, Baker Hughes Incorporated (NYSE:BHI) has gained 1.3 percent to $73.94 while Schlumberger Limited (NYSE:SLB) is up 2.1 percent to $87.89.
Despite all the gains, BP’s stock still has a long way to go to make a full comeback — much like the mess they’ve left.