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Why High-Yielding Oil Stocks Are Soaring Today

TheMotleyFool

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Why High-Yielding Oil Stocks Are Soaring Today

Crude oil prices jumped today. WTI, the leading U.S. oil price benchmark, had risen about 4.5% by 11:15 a.m. EDT on Friday. That fueled a big rally in most oil stocks.

One subgroup that surged along with oil was midstream companies, which are known for paying high dividends. Several rallied more than 10% by the midmorning, including Crestwood Equity Partners (NYSE: CEQP), Enable Midstream Partners (NYSE: ENBL), EnLink Midstream (NYSE: ENLC), Noble Midstream Partners (NYSE: NBLX), and ONEOK (NYSE: OKE).