Friday, May 20, 2011

Baker Hughes (BHI) (NOV) (OAS) (BRY) (XCO) Trading Up

Shares of Baker Hughes Incorporated (NYSE:BHI), National-Oilwell Varco, Inc. (NYSE:NOV), Oasis Petroleum (NYSE:OAS), Berry Petroleum (NYSE:BRY) and Exco Resources Inc. (NYSE:XCO) were trading up today as oil prices rebounded later in the session.

The expiring U.S. June crude contract was up 98 cents to $99.42 a barrel, after falling as low as $95.99.

U.S. July crude climbed $1 to $99.93, bouncing back after falling to $96.35.

Shares of oil companies like BP (NYSE:BP), Anadarko (NYSE:APC), Transocean and Cameron International (NYSE:CAM), all of which were connected to the Gulf oil spill, were all trading up on news of the settlement between BP and Macondo Well partner Mitsui (OTC:MITSY).

Exco Resources Inc. (XCO) was trading at $20.59, gaining $0.26, or 1.28 percent, as of 2:52 PM EDT. Berry Petroleum (BRY) was at $50.41, up $1.52, or 2:54 percent. Oasis Petroleum (OAS) was trading at $29.83, up $1.06, or 3.68 percent. National-Oilwell Varco, Inc. (NOV) was at $68.12, gaining $0.19, or 0.28 percent. Baker Hughes Incorporated (BHI) was trading at $70.80, gaining $0.23, or 0.33 percent.

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