Why Transocean, Schlumberger, Halliburton, and Other Oil Stocks Surged Today

Turmoil in Europe drove oil prices higher on Monday. That led to a rise in the prices of many energy-related companies.

Here's how some of the major oil and gas service providers fared today:

Oil prices surged as high as $130 per barrel before pulling back, following reports that U.S. and European officials were considering a ban on purchases of oil and natural gas from Russia due to the events in Ukraine. Energy prices have risen sharply in recent weeks after conflict broke out in the region.

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Source Fool.com