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.
Spindletop Oil & Gas Co (OTCMKTS:SPND) was one of the biggest percentage gainers in Thursday’s trading session. The stock soared 26% or 72 cents to close at $3.50. The stock has surged 59% so far this year and just 13% from its 52-week high of $4.02. Spindletop Oil & Gas Co., an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas in Alabama, Arkansas, Louisiana, Oklahoma, New Mexico, and Texas, the United States.
FEC Resources Inc. (OTCMKTS:FECOF) stock was in action in the previous trading session as the stock jumped 13% to $0.0223 with over 7K shares traded hands, compared to its average volume of 782K shares. Over the past 52-week, the stock has been moving in a range of $0.0014 – 0.0500.
Futuris Co (OTCMKTS:FTRS) is another energy stock which has been gaining momentum over the past week. The stock has rallied 12% so far this week. Over the past 52-week, the stock has been moving in a range of $0.1200 – 1.3500.
Royale Energy Funds Inc (OTCMKTS:ROYL) stock has been gaining momentum over the past month with a jump of about 18%. The stock was flat at $0.0710 in the previous trading session with more than 3K shares traded hands, compared to its average volume of 46k shares.
Blue Dolphin Energy Company (OTCMKTS:BDCO) is one of the major stock movers in the past week on increased volume. The stock has gained 14% over the past week and up 8% so far this year.. Moreover, the stock is trading well above the 200-Day and 50-Day moving averages – signaling a bullish trend.
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.
