DVN - Energy stocks dominate S&P 500 top gainers as oil prices maintain strong move
2023-10-09 10:30:24 ET
- The S&P energy index surges Monday by the most in more than four months, +3.2% , as U.S. and Brent crude oil prices sustain gains well above 3% following this weekend's attack on Israel by Hamas.
- Front-month November Nymex crude oil ( CL1:COM ) +4% to $86.11/bbl and December Brent crude ( CO1:COM ) +3.7% to $87.76/bbl.
- Nine of the day's top 15 early gainers on the S&P 500 are in the oil and gas sector: Halliburton ( HAL ) +5.9% , Marathon Oil ( MRO ) +4.7% , Hess ( HES ) +4.5% , SLB ( SLB ) +4.3% , ConocoPhillips ( COP ) +4.2% , APA ( APA ) +4% , Devon Energy ( DVN ) +3.9% , EOG Resources ( EOG ) +4% , Coterra Energy ( CTRA ) +3.8% .
- ETFs: ( NYSEARCA: XLE ), ( XOP ), ( VDE ), ( OIH ), ( XES ), ( IEZ ), ( CRAK ), ( NYSEARCA: USO ), ( BNO ), ( UCO ), ( SCO ), ( USL ), ( DBO ), ( DRIP ), ( GUSH ), ( NRGU ), ( USOI ),
- While the current "knee-jerk reaction" in crude prices is understandable following the attack that opens up the potential for a wider war and disrupted oil flows, analysts generally see the price spike as temporary .
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Energy stocks dominate S&P 500 top gainers as oil prices maintain strong move