We have been witnessing a major move in oil price as crude oil jumped to a multi-year high. These stocks should be in your watchlist as these companies may benefit on rising oil prices.

Providence Resources Inc. (OTCMKTS:PVRS) is one of the major stock movers in the past few months on increased volume. The stock has soared 130% over the past 6-month and jumped 11% in the previous trading session. Moreover, the stock is trading well above the 200-Day and 50-Day moving averages – signaling a bullish trend.

Ignis Petroleum Group Inc. (OTCMKTS:IGPG) stock has been gaining momentum over the past week with a jump of about 7%. The stock was up 0.50% to $0.0001 in the previous trading session with more than 300k shares traded hands, compared to its average volume of 103k shares.    

Eurasia Energy Ltd (OTCMKTS:EUENF) stock has been showing consistent rally over the past week with a jump of a whopping 339%. Eurasia Energy Limited operates as an oil and gas exploration company. The company was formerly known as Pacific Alliance Ventures Ltd. and changed its name to Eurasia Energy Limited in November 2005. Eurasia Energy Limited was incorporated in 2003 and is based in South Hill, Anguilla.

Paradigm Oil and Gas (OTCMKTS:PDGO) stock is another top mover in the oil & gas sector. The stock has surged 58% over the past week. On Tuesday, the stock closed higher by 8.50% to $0.0038 with more than 115.95 million shares traded, compared to its average volume of 60.71 million shares.

OTC Oil and gas investors may also want to look at Allied Energy Corp. (OTCMKTS:AGYP) as it begins pumping oil from wells in Texas. While energy price and demand reach record highs, AGYP is an independent that has literally struck oil and has started pumping barrels when domestic buyers need it most. AGYP finished up 10% in Monday’s trading and there is a large short position which has investors paying close attention to this one.