XOM - Energy stocks rally as oil pushes higher; gasoline extends rise to all-time highs

Energy (NYSEARCA:XLE) is easily the leading S&P industry sector in Monday's trading, +3.6% as it enjoys support from rising WTI crude oil prices to a fresh high for the month and U.S. gasoline futures topped $4/gallon for the first time ever. "The stronger [oil] products get, the more optimistic the market gets on crude runs increasing this summer," TP ICAP Group energy specialist Scott Shelton told Bloomberg. WTI crude for June delivery (CL1:COM) +2.6% to $113.35/bbl, while July Brent crude (CO1:COM) +1.7% to $113.46/bbl. The top five gainers in the S&P 500 all are in the energy sector: (OXY) +6.6%, (APA) +5%, (MRO) +4.5%, (COP) +4.4%, (HAL) +4.3%. Other notable gainers include (NRG) +4.2%, (CVX) +4.1%, (DVN) +3.9%, (FTI) +3.8%, (HES) +3.8%, (SLB) +3.7%, (XOM) +3.4%, (PXD) +3.2%, (PSX) +3.1%, (VLO) +3%. "The continuous inventory withdrawal over the past few weeks has pushed U.S. gasoline stocks to levels significantly below the five-year average

For further details see:

Energy stocks rally as oil pushes higher; gasoline extends rise to all-time highs