Why GasLog, Frontline, and Nordic American Tankers Stocks All Popped Today
Oil prices slumped on Monday, with American standard West Texas Intermediate crude oil and international benchmark Brent crude both closing the day down about 3.4% at $38.18 and $40.85 a barrel, respectively.
Oil tanker stocks, on the other hand -- and liquefied natural gas (LNG) shippers, for that matter -- headed the other way. By close of trading, crude oil shippers Frontline (NYSE: FRO) and Nordic American Tankers (NYSE: NAT) ended up 10.2% and 14%, respectively. LNG carrier GasLog (NYSE: GLOG) closed the day 17.2% higher.
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Source Fool.com
