WHD - Schlumberger Halliburton post multiyear highs as U.S. crude touches $130/bbl

Leading oilfield services companies Schlumberger (SLB +8.1%), Halliburton (HAL +6.2%) and Baker Hughes (BKR +4.7%) all closed at multiyear highs Monday, leading the energy sector as WTI crude oil closed at its highest front-month contract finish since September 2008 after setting an overnight high at $130.50/bbl. Investors are betting that oilfield service providers will benefit from an uptick in U.S. production activity to make up for the potential loss of Russian oil supply, which "exceeds the upside" of potential supply from Iran, SPI Asset Management's Stephen Innes told MarketWatch. Also rising to new 52-week highs: RIG +16.7%, NOV +15.6%, WHD +10.2%, HP +6.5%, PTEN +6.2%, NBR +2%. Smaller energy services stocks also racked up big gains, including ENSV +85.2%, OIS +20.9%, CLB +14.2%, SDPI +14%, OII +10.1%, DRQ +9.3%. ETFs: XLE, VDE, OIH Schlumberger, Halliburton and Baker Hughes fell early last week after reports from J.P. Morgan Chase and Citigroup

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Schlumberger, Halliburton post multiyear highs as U.S. crude touches $130/bbl