Energy Stocks Soar as Oil Tops $100

Energy Energy Stocks Oil Prices Oil Stocks
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Oil prices broke above $100 a barrel for the first time in over a year last Wednesday. As oil rises, it’s dragging certain parts of the entire energy sector up with it.

Many of today’s biggest winners were energy stocks. Among the highest risers were:

Linn Energy (NASDAQ: LINE), Independent Oil and Gas

Monday Gains: +8.3%

CVR Energy (NYSE: CVI), Oil and Gas Refining and Marketing

Monday Gains: +6.8%

Northern Tier Energy (NYSE: NTI), Oil and Gas Refining and Marketing

Monday Gains: +4.8%

Breitburn Energy Partners (NYSE: BBEP), Oil and Gas Drilling and Exploration

Monday Gains: +1.8%

QR Energy (NYSE: QRE), Independent Oil and Gas

Monday Gains: +4.8%

The big oil companies – Exxon (NYSE: XOM), Chevron (NYSE: CVX) and Royal Dutch Shell (NYSE: RDS) – posted more modest gains, but were also up today. It’s the continuation of a recent winning streak for the sector. Energy stocks have risen 2.2% in the last five days. During that time, oil prices are up 7%.

The recent rebound in energy stocks qualifies as a mini rally for the sector. The Vanguard Energy ETF (NYSE: VDE), whose holdings include Exxon, Chevron and ConocoPhillips (NYSE: COP), has lagged behind the S&P 500 by close to 2% so far in 2013.

Now that oil is back in triple digits, perhaps energy stocks will play catch-up after an underwhelming first six months of the year. 

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