Oil and Gas Stock Roundup: M&A and Bullish Data Sends Oil Stocks Soaring

After dipping 4% and closing below $45 per barrel last week, crude came roaring back this week. Thanks to a one-two punch of supply issues in Nigeria and a report that demand growth accelerated in the second quarter, crude prices rose more than 5% this week and closed above $46 per barrel.

That rally in the oil market, along with some company specific news, sent oil stocks bounding higher. According to data from S&P Market Intelligence, several oil stocks scored double-digit gains this week. Leading the way were Halcon Resources (NYSE: HK), Weatherford International (NYSE: WFT), Resolute Energy (NYSE: REN), Noble Corp (NYSE: NE), and Basic Energy Services (NYSE: BAS).

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Source: Fool.com