Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Magnolia Oil & Gas Stock Jumped as Much as 13.7% on June 29

Shares of U.S. energy exploration and production company Magnolia Oil & Gas (NYSE: MGY) rose nearly 14% at one point during the trading day on June 29. The gains were slow and steady throughout the


Shares of U.S. energy exploration and production company Magnolia Oil & Gas (NYSE: MGY) rose nearly 14% at one point during the trading day on June 29. The gains were slow and steady throughout the day, with the company still trading near its highs at 3:30 p.m. Wall Street time.

There was no particular news out of the oil and gas company, so the gains were more likely tied to the solid rise in the price of West Texas Intermediate (WTI) crude. WTI, the benchmark for U.S. oil, was up about 3% on the day. However, the bigger takeaway is probably one step deeper.  

Image source: Getty Images.

Continue reading


Source Fool.com

Like: 0
MGY
Share

Comments

You may not comment on this article as you either did not confirm your account yet or were blocked. If you think this is a mistake please contact us. Show more