Shares of stocks across the oil and gas industry surged in December. These included shares of independent exploration and production company Noble Energy (NYSE: NBL), and oilfield services companies Halliburton (NYSE: HAL) and TechnipFMC (NYSE: FTI). The three companies' shares were up 19.7%, 16.6%, and 13.8%, respectively, according to data provided by S&P Global Market Intelligence.
This largely mirrored the performance of the oil and gas industry as a whole. Industrywide funds SPDR Oil and Gas Exploration & Production ETF and SPDR Oil and Gas Equipment & Services ETF rose 16.4% and 18.1% for the month, respectively.
When oil prices go up, oil stocks outperform. Image source: Getty Images.
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Source: Motley Fool
(January 9, 2020 - 5:02 PM EST)
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