51295
US Energy Firms Post Strong Gains
Energy

US Energy Firms Post Strong Gains

The 36 American energy firms on the Standard & Poor's 500 list have gained $316 billion in market value since West Texas Intermediate crude oil prices reached a record low of $26.21 last February.
According to a USA TODAY analysis of data from S&P Global Market Intelligence, the 36 firms have each posted individual gains over the past seven months, Oil Price reported.
Williams Energy, for instance, gained a whopping 130% for a market gain of just over $13 billion since the WTI low point last February. Other firms posted percentage gains of at least 60% like Anadarko (79.1%), Pioneer Natural Resources (68%), and Halliburton (60.7%).
A pair of energy giants topped the list of strongest gainers with Chevron on the peak with an added $36.2 billion since February, followed by Exxon Mobil with $31 billion.
The price of WTI crude broke the $50 per barrel mark on October 6 for the first time since June and has gained around 92% following the bottoming out in February.
Numerous factors are behind the upturn including worry over the possible damage Hurricane Matthew could have over oil supplies in the southeastern United States. Furthermore, oil prices have risen steadily since members of OPEC and non-OPEC oil producers reached a tentative deal last week to curtail production.

Short URL : https://goo.gl/hh2y9X
  1. https://goo.gl/iNQcUk
  • https://goo.gl/Lq3PqH
  • https://goo.gl/wPJDYG
  • https://goo.gl/oPr3vU
  • https://goo.gl/CzpxM4

You can also read ...

National Tanker Company Receives 2 Int'l Certificates
The National Iranian Tanker Company has been accredited with a...
Nigeria will be able to participate in cuts when its output stabilizes at 1.8m bpd.
OPEC’s commitment to cutting production to clear a global glut...
Total Sets Oil Growth Target
French oil and gas major Total extended its oil production...
Dana Energy Co. Signs Deal to Study Two Oilfields
Tehran-based Dana Energy Company has signed a memorandum of...
Oil Hits Eight-Month High
Oil prices rose on Monday to their highest in eight months...
Thermal Power Plants Capacity at 62,000 MW
Thermal power plants running on fossil fuels to generate power...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus