Oil prices are snapping back on Thursday, one day after nosediving to their lowest level since 2002. At noon EDT, WTI, the U.S. oil benchmark, had rallied more than 18% to above $24 a barrel.
That rebound in the oil market fueled a rally in most energy stocks. One group that bounced back sharply was oil-field service stocks. Leading the way were Core Labs (NYSE: CLB), Oceaneering International (NYSE: OII), and National Oilwell Varco (NYSE: NOV), which all jumped double digits by the mid-morning.
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Source: Motley Fool
(March 19, 2020 - 1:23 PM EDT)
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