These stocks are the biggest winners when oil prices surge

Oil prices are on a tear to start the new quarter, and if history is any guide, some stocks are better positioned to benefit from rising prices. Oil surged as much as 8% on Monday after OPEC+ announced it was slashing output by 1.16 million barrels per day. Analysts warned that the move could push oil back above $100 per barrel, a level it hit last year for the first time since 2014 amid the war in Ukraine .

mountain Shares have fallen more than 38% this year Bank behemoths Morgan Stanley and Bank of America also made the cut, gaining a median of 12.1% and 15.5%, respectively. Even after a volatile March for the banking sector, Morgan Stanley shares are up 3.4% year to date. Bank of America shares have shed 13.1% on the year. Elevated oil price winners outside these sectors include travel stocks Alaska Air Group , Expedia and Booking Holdings . Deere and Mosaic also met the criteria.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil stocks jump on Saudi oil production cutOil stocks jumped premarket Monday after Saudi Arabia’s Ministry of Energy led a surprise oil production cut across several OPEC+ nations. On Sunday the...
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock Market Today: Dow up 300 points as energy shares jump after OPEC+ oil production cutsMarketWatch Live: Dow up 300 points as OPEC+ quota cut ignites energy shares This is great news! Oil prices will likely come down, which will benefit consumers in the long run.
Source: MarketWatch - 🏆 3. / 97 Read more »