Referenced Stocks

Energy Stocks Posting Strong Gains as Crude Pushes Past $80 a Barrel

By MT Newswires,  June 27, 2012, 01:04:35 PM EDT

Top Energy Stocks

XOM +1.4%

CVX +1.5%

COP +1.1%

SLB +3.3%

OXY +2.2%

Energy stocks are higher today with the NYSE Energy Sector Index posting a 1.6% gain and the S&P Energy Index cruising to a 2.2% advance. Crude oil for August delivery is up 78 cents at $80.14 a barrel. July natural gas is up 8 cents at $2.85 per 1 million BTU.

In company news, Anadarko Petroleum ( APC ) shares have up nearly 4% but off day highs after the company was awarded a license in Guyana to explore for oil and gas offshore in the Roraima deepwater block.

Separately, APC said it has restarted its natural-gas Independence Hub platform in the Gulf of Mexico after Tropical Storm Debby passed by yesterday. The company temporarily shut down and evaculated four of its eight Gulf platforms --with the Marco Polo and Constitution rigs restarting on Tuesday followed by Independence Hub this morning.

Debby has weakened into a tropical depression after making landfall in Florida.

In other sector news,

(+) XOM, (+1.4%) CEO says firm making "no money" on natural gas as prices remain below cost of production.

(+) HERO, (+4.5%) Initiated with Equal Weight rating, $5 price target, at Stephens.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: APC



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