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4 Feb 2015
Rising oil pushes energy stocks higher – Danske
FXStreet (Barcelona) - 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.”
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.”