Oil stocks are up this morning as investors favor penny stocks in the sector with heavy trading on Monday.
So what is moving oil stocks today? The war between Russia and Ukraine continues to affect the stock market. That, combined with ongoing inflation concerns, is pushing oil prices higher, with crude hitting $130 a barrel overnight.
As a result, several oil companies are seeing their shares take off. Let’s see how they are affected below!
Oil stocks on the move
- western oil (NYSE:OXY) stock starts us off with a 2.5% gain and over 22 million shares in motion. The company’s average daily trading volume is approximately 21.4 million shares.
- Camber energy (NYSEAMERICAN:IEC) shares are then higher with a rise of more than 39% and some 160 million shares traded. Its average daily trading volume is approximately 31 million shares.
- Exxon Mobil (NYSE:XOM) the stock is up about 2.4% at the time of this writing with more than 13 million shares changing hands. The company’s average daily trading volume is closer to 28.4 million shares.
- Houston American Energy (NYSEAMERICAN:HUSA) stocks are surging more than 180% this morning with some 25 million in motion. The company’s average daily trading volume is approximately 628,000 shares.
- Imperial Oil (NASDAQ:IMPP) the stock joins our list with a rise of around 107% as 53 million shares move. Its average daily trading volume is approximately 19.8 million shares.
- New Energy Service (NYSE:NEW) shares are up more than 44% with some 15 million shares changing hands so far. The company’s average daily trading volume is close to 443,000 shares.
- Indonesia Energy (NYSEAMERICAN:INDO) comes next with an increase of almost 29%, some 6 million shares having been traded. The company’s average daily trading volume is approximately 7.5 million shares.
- Marathon Oil (NYSE:RRM) shares take a spot on the list with a 6.2% jump and 10 million units in motion. The oil giant’s average daily trading volume is around 19.5 million shares.
- Devon Energy (NYSE:NDV) the stock rose 4.6% this morning as some 6 million units changed hands. For the record, its average daily trading volume is around 13 million shares.
- Vermilion Energy (NYSE:VETERINARY) close our list of oil stocks with an increase of more than 11% alongside nearly 2 million shares traded. Its average daily trading volume is approximately 2.3 million shares.
As of the date of publication, William White had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.
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