The S&P 500 is showing signs of life, and it has the energy sector to thank.
Energy stocks in the benchmark rose as much as 1.5% on Monday after Saudi Arabia and Russia agreed to extend crude-oil output cuts until March 2018. The group was the best performer in the S&P 500, which climbed 0.4%.
The shares are tracking a 2.5% move higher in oil, the resource’s second-biggest jump since the start of December.
Energy corporations are getting a much-needed relief rally, with the S&P 500 Energy Index having fallen to a nine-month low on May 4. The index has rebounded 3.2% over the past seven days.
Here are some energy stocks that are doing particularly well:
- Marathon Oil (+3.9%)
- Transocean (+3.9%)
- Helmerich & Payne (+2.6%)
- Halliburton (+2.5%)
- Newfield Exploration (+2.2%)
Get the latest Oil WTI price here.