are all climbing more than 10% on Monday as these heavily shorted stocks experienced "a large short cover bounce," Gruber said.
"Long cycle offshore activity should see less of an impact unless the outages/geopolitical risk premium sustains for an extended period while structural oversupply likely remains," Gruber said. "Thus the bounce in the offshore drillers could fade before other sub-sectors."among drillers as it's already "well positioned" with a possible asset sale by year-end before the positive impact from higher oil prices, Singer said. Kosmos Energy is up 9% Monday.
"We also see a positive set up into the company's November analyst day given robust free cash flow at a lower crude environment," Singer said.may have "disproportionate stock reactions" given its elevated leverage, he noted. Its stock jumped 9% Monday.Refiners took a hit from the Saudi attack as many U.S. facilities depend on heavy crude supplied by countries including Saudi Arabia.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »