Energy prices are rising today. Crude oil is moving higher, with both WTI, the U.S. benchmark, and Brent, the global benchmark, on the upswing. WTI rose nearly 2% by 10:45 a.m. EDT on Monday -- climbing back above $20 a barrel -- while Brent rose more than 1% to almost $27 a barrel. Natural gas was also moving upward, with the NYMEX price rallying more than 3% to nearly $2 per MMBtu.
Those higher prices fueled most energy stocks today. Natural gas stocks were among the biggest movers; producers Antero Resources (NYSE: AR), Gulfport Energy (NASDAQ: GPOR), and MLP Crestwood Equity Partners (NYSE: CEQP) rose more than 10%. Meanwhile, oil-focused producer Centennial Resource Development (NASDAQ: CDEV) also rallied sharply on today's rebound in the energy market.
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Source: Motley Fool
(May 4, 2020 - 12:13 PM EDT)
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