Energy Stocks: Why SM, RRC, AR, EOG and FANG Are Getting a Boost Today

Energy stocks are on the move Wednesday as reports of crude oil shortages are increasing prices.

a picture of an oil rig in the middle of the ocean on a cloudy day representing energy stocks.

Source: Shutterstock

The big problem with crude oil has to do with the Gulf of Mexico. Disturbances by recent tropical storms and hurricanes have limited the amount of oil that can be drawn. Adding to that is the fact that more storms are on the way.

This means that it could be some time before crude oil draw in the Gulf of Mexico can return to normal. That would mean increasing prices for crude oil, which can mean rising prices for energy stocks, Seeking Alpha notes.

Let’s take a look at some of the biggest movements among energy stocks today!

Energy Stocks on the Move

  • SM Energy (NYSE:SM) stock starts us off with shares climbing more than 12% higher on Wednesday afternoon.
  • Range Resources (NYSE:RRC) stock is up next as the company’s shares rise over 8% as of this writing.
  • Antero Resources (NYSE:AR) stock is also getting a solid boost today with its shares heading more than 8% higher.
  • EOG Resources (NYSE:EOG) stock isn’t doing bad either as its shares are pushing close to 7% higher today.
  • Diamondback Energy (NASDAQ:FANG) shares close out our energy stock movers list up over 6% as of this writing.

Of course, there’s more than just these stocks that investors will want to keep an eye on today!

There’s plenty of other stock market news that traders will want to be aware of. A few stories worth looking into include what to know about Tellurian (NASDAQ:TELL) as its soars higher, details on Greenidge Generation Holdings (NASDAQ:GREE) as it makes its public debut, as well as what traders are saying about meme stock favorite Camber Energy (NYSEAMERICAN:CEI) today. You can get all of this news by following the links below!

More Stock Market News for Wednesday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Article printed from InvestorPlace Media,

©2023 InvestorPlace Media, LLC