The combination of Exxon Mobil's (NYSE:XOM) performance in the last quarter, along with the surging price of oil, moved the price of oil companies like Chevron (NYSE:CVX), Baker Hughes (NYSE:BHI) and Halliburton (NYSE:HAL) all up on Monday.
Exxon served as a reminder of how lucrative the oil sector is at this time, even with their significant exposure to natural gas, and soaring oil prices served as a reminder that those days are far from over.
Baker Hughes (BHI) and Halliburton (HAL) were up on the increasing amount of drilling oil companies are engaging in to meet the growing demand for the energy source, which generates demand for their equipment and expertise.
Exxon closed Monday at $80.68, gaining $1.69, or 2.14 percent. Chevron closed at $94.93, up $1.56, or 1.67 percent. Baker Hughes closed at $68.51, up $1.22, or 1.81 percent. Halliburton closed even at $45.00, gaining $1.12, or 2.55 percent.
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