Why Oil Stocks Are Roaring Higher Today

Crude oil prices are in rally mode today. The June contract for WTI, the primary U.S. oil benchmark, surged more than 30% to around $16 a barrel. That rebound, along with a few other factors, fueled oil stocks today. 

Shares of several oil-related companies were up more than 10% at 11:15 a.m. EDT on Wednesday. Leading the way were SM Energy (NYSE: SM), Matador Resources (NYSE: MTDR), WPX Energy (NYSE: WPX), NGL Energy Partners (NYSE: NGL), and PBF Energy (NYSE: PBF). 

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Source Fool.com