Why Energy Stocks Are in Rally Mode Today [The Motley Fool]
Continental Resources, Inc. (CLR)
Last continental resources, inc. earnings: 2/26 04:15 pm
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US:NYSE Investor Relations:
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Source: The Motley Fool
What happenedTheenergy sectoris rebounding today after a brutal start to the week. After goingnegativeearlier on Monday, oil bounced back today as inventory data wasn't worse than the market feared. That helped spark some buying as investors went dumpster diving for beaten-down energy stocks.That action sent shares of several companies surging. Leading the charge wereDelek Logistics Partners(NYSE:DKLContinental ResourcesNYSE:CLRKosmos EnergyNYSE:KOSGulfport EnergyNASDAQ:GPORImage source: Getty Images.So whatCrude prices surged today as investors focused on some potentially positive developments. WTI, the U.S. oil benchmark, zoomed 9% to around $.7 a barrel, while Brent, the global benchmark, surged 8% to roughly $ a barrel. One factor fueling this uptick in oil prices was oil inventory levels in the U.S., which came in slightly below expectations. While the country added million more barrels to storage this week, that was about 00,000 barrels below the consensus estimate and less tha
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