As oil hits new highs, so does the energy sector. Which companies are profiting the most?
By: NYMEX crude oil for May delivery hit four new closing records this week, and an intraday all-time high of $117 per barrel. Oil gained 6.1% for this week alone, and achieved the biggest weekly dollar increase ever on the NYMEX of over $5.
Of the companies benefiting the most from the rise in crude oil, five are within the S&P Oil and Gas Equipment and Services group, a sub-group of the S&P Energy sector, and they are:
BJ Services
Weatherford International
Smith International
Baker Hughes
Schlumberger.
**The S&P Oil and Gas Equipment and Services Group is up 11.97% this week.
S&P 500 Energy Sector 1-Week Winners
The S&P Energy sector is up almost 8% for the week led by BJ Services up over 16% this week.
