BUZZ-Oil and gas shares rise after Brent tops $40/barrel

Wed Mar 9, 2016 11:49am EST
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** Oil and gas companies' U.S.-listed shares rise after Brent crude goes above $40 per barrel; S&P Energy Index up 2.5 pct

** Oil prices jumped 3 pct after huge draw in U.S. gasoline inventories last week convinced market energy demand was improving despite U.S. crude stockpiles hitting record highs for 4th week; crude prices also gained support from speculation that top oil producers might agree soon to output freeze

** BP Plc up 1 pct, Statoil ASA up 2.2 pct; Exxon Mobil up 1 pct, ConocoPhillips up 1.2 pct

** Oilfield services companies: Schlumberger Ltd up 1 pct, Baker Hughes Inc up 1.6 pct, National-Oilwell Varco Inc up 1.5 pct

** Contract drillers: Helmerich & Payne Inc up 3.6 pct, Nabors Industries Ltd up 3.2 pct

** Top gainers: Bonanza Creek Energy Inc up 14.8 pct, Stone Energy Corp up 13.2 pct, SM Energy Co up 12.9 pct, Sanchez Energy Corp up 12.9 pct, Oasis Petroleum Inc up 10.9 pct, Baytex Energy Corp up 10.2 pct

** Basic Energy Services Inc up 10 pct, WPX Energy Inc up 9.9 pct, Whiting Petroleum Corp up 9.4 pct, QEP Resources Inc up 9.6 pct, Memorial Production Partners LP up 8.6 pct, Denbury Resources Inc up 8 pct