Why Chevron, Devon Energy, and Marathon Oil Stocks Exploded in May
The oil and gas sector is so hot right now that investors in many of these stocks are making boatloads of money week after week. Among the several outperformers in May, here are three that stood out with their double-digit gains, according to data provided by S&P Global Market Intelligence.
All three are upstream oil companies, so one common link evidently buoyed their shares higher last month: oil prices. Yet there were equally important company-specific developments that lifted these stocks even higher.
Crude oil prices have skyrocketed in recent months, and May was no different. U.S. crude benchmark West Texas Intermediate (WTI) jumped from around $105 per barrel at the beginning of the month to almost $115 by the end.
Source Fool.com
