Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Oil Stocks Are Climbing As The Price Bounces Back

Mike BirdDec 15, 2014, 14:13 IST

Oil prices are recovering a little from their multi-year lows as markets open in Europe, and oil stocks are seeing some recovery.

At 8.30 a.m. GMT, WTI crude oil is up 0.96% to $58.64, after falling below $57 late on Sunday. Brent crude fell below $61 per barrel at the same time, but is now back up 1.23% to $62.89.

investing.com, Business Insider

Oil stocks are following the climb and leading the FTSE 100 today.

Tullow Oil: +3.58%

BG Group: +3.01%

Petrofac: +2.14%

Royal Dutch Shell: +1.24%

Oil got hammered last week, helping towards the worst week that lots of major equities indices have seen in years, with major energy stocks sinking around the world. It's looking more positive at the start of this week, but there's no telling yet how far prices could fall.