TRP - Why These 3 Oil and Gas Stocks Rallied Double Digits in January
Oil and gas prices were scorching hot in January. Crude oil surged 17% last month, closing at around $90 a barrel, driven in part by concerns that Russia might invade Ukraine. Meanwhile, due to colder weather, natural gas prices gained a blistering 31% for the month.
These surging oil and gas prices drove up energy stocks last month, with most rallying double digits. Three notable names that surged in January were Occidental Petroleum (NYSE: OXY) , Cheniere Energy Partners (NYSEMKT: CQP) , and TC Energy (NYSE: TRP) . Here's a look at what drove their rallies and whether they have the fuel to keep going higher.
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Why These 3 Oil and Gas Stocks Rallied Double Digits in January