FRIDAY, SEPTEMBER 14, 2012

SECTOR COMMENTARY

Oil and gas stocks closed higher, helped by broader market gains as well as increases in both WTI and Brent crude. The oil services led the way higher, as a note from Wells Fargo highlighting the positive impact on a few oil service companies due to Chesapeake Energy’s sale of its Permian properties. Wells Fargo believes that this will result in a 7-8% increase in rig count, which would directly benefit companies in the space which have exposure to the region. The refiners and ...