Battered U.S. energy shares soar in wake of attacks on Saudi facilities [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Battered U.S. energy shares soar in wake of attacks on Saudi facilities Shares of U.S. energy companies surged on Monday as a jump in oil prices in the wake of attacks on Saudi Arabia’s oil facilities gave new juice to a sector that has been a chronic underperformer. Shares of Apache Corp jumped 16.9 per cent and Marathon Oil Corp gained 11.6 per cent, while major energy conglomerates, including Exxon Mobil Corp and Chevron Corp, rose 1.5 per cent and 2.2 per cent, respectively. Some smaller stocks registered huge gains: Whiting Petroleum Corp jumped 49 per cent, Denbury Resources Inc gained 28 per cent and Oasis Petroleum Inc climbed 29 per cent. The S&P 5 energy sector index rose 3.3 per cent, while the Energy Select Sector SPDR ETF rose 3.4 per cent. Story continues below advertisement Benchmark Brent settled up about 15 per cent after rising about 2 per cent, following drone attacks that sliced Saudi Arabia’s production in half and threatened to hamper shipments from the world’s l
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