Why Oil States International Stock Jumped Another 13% This Morning
Shares of energy services company Oil States International (NYSE: OIS) opened the day sharply higher on June 3, gaining 13% by 10 a.m. EDT. That follows on notable gains in the previous trading day. In fact, over the past five days, the stock is up over 40%, with almost all of that gain coming in just the last two sessions.
The first thing that's helping push Oil States' stock higher is that oil prices have been relatively strong the last week or so. Although there's still a long way to go before the supply/demand imbalance in the energy sector is corrected, there appears to be progress being made. Eventually, that should lead to higher oil and natural gas prices and increased demand for the types of products and services that Oil States offers the industry.
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Source Fool.com
