Shares of Antero Resources (NYSE: AR), Denbury Resources (NYSE: DNR), and Whiting Petroleum (NYSE: WLL) all rallied more than 10% by 2:45 p.m. EST on Thursday. Fueling the surge in these energy stocks was an uptick in the price of oil.
The U.S. oil price benchmark, WTI, rallied about 1% today, closing above $59 a barrel. The primary catalyst was the enthusiasm that the U.S. and China might finally be close to reaching terms on phase one of their trade deal. That agreement should help boost the global economy and demand for crude oil.
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Source: Motley Fool
(December 12, 2019 - 4:37 PM EST)
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