Rising oil pushes energy stocks higher

4 February 2015, 09:37
Andrius Kulvinskas
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 The Danske Bank Research Team, mentions that the further rise in oil prices led S&P 500 to register a gain of 1.4%, with energy stocks recording the biggest gains.

Key Quotes

“The oil price rose further last night hitting USD59 per barrel briefly for a cumulative rise of USD12 per barrel since it hit the bottom in mid-January.”

“A sharp decline in rig counts, reduced spending plans by major oil companies and short covering have lifted the oil price.”

“The move supported a 1.4% gain in S&P500 with the biggest increases seen among energy stocks but gains were seen across all sectors.”
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