Spike in Oil Prices Boosts Integrated Oil Shares in February

摘要

February marked the third consecutive month that the largest integrated oil and gas firms listed on the New York Stock Exchange collectively outperformed the broader market. This time, an aggressive upward spike in crude oil prices drove the group’s strong performance. Nymex Light Sweet crude futures were volatile in February, having started the month around $92 per barrel only to drop to around $84 by mid-month. But that weakness quickly reversed itself as protests in Libya took a violent turn, suggesting that popular uprisings that have already toppled governments in Egypt and Tunisia could spread to the region’s more significant oil and gas producers.