COP - Why ConocoPhillips Core Labs and Centennial Resource Stocks Just Popped
Things are looking ugly for tech stocks on Tuesday, with the tech-heavy Nasdaq down 1.7% as of 2:35 p.m. ET. Energy stocks, on the other hand, are coming up roses, as the "OPEC+" cartel of oil-producing nations ( plus Russia ) delivers some good news for oil prices.
Result: All across the oil sector , energy stocks are bouncing higher. Independent oil and natural-gas producer Centennial Resource Development (NASDAQ: CDEV) is gaining 10.2%, oil services company Core Laboratories (NYSE: CLB) is gaining 5.6%, and oil major ConocoPhillips (NYSE: COP) just tacked on a 4.5% gain.
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Why ConocoPhillips, Core Labs, and Centennial Resource Stocks Just Popped