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Why These Oil Stocks Are Rebounding Today

TheMotleyFool

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Why These Oil Stocks Are Rebounding TodayPhoto, wide shot, wide-angle lens, Coal company, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/0e838f13-fa33-4583-92e9-bf3375dacf70.png

Oil prices continue their slow march back up after cratering to below $15 per barrel, and even flirting with negative oil prices for a day. Today, the June 2020 contract for West Texas Intermediate rose to $33 as of 1:30 p.m. EDT.

That rise in U.S. domestic oil prices is bringing oil and gas companies with it. Even though the price of oil is up 3% today, shares of midstream company EnLink Midstream (NYSE: ENLC); oil and gas producers Kosmos Energy (NYSE: KOS) and Crescent Point Energy (NYSE: CPG); and oil services and equipment providers Helix Energy Solutions (NYSE: HLX) and NexTier Oilfield Solutions (NYSE: NEX) all were up more than 10% as of the time of this writing.

Image source: Getty Images.

Source Fool.com

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