So Do These 4 NYSE And Nasdaq Petro Stocks

As the price of oil finally breaks upward after a long (3 or 4 months) period of consolidation, some stocks in the petroleum group are following it higher, some to new highs, others to 6-month highs. This is not true for the majors like Chevron and Exxon Mobil which remain far off their 2024 peaks.

These four stocks are not large caps but they’ve been moving better lately than those big names.

4 Oil Stocks Hitting New Highs

United States Oil Fund (NYSE: USO)

First, the price chart shows how oil just broke above that red-dotted downtrend line that connected the early July high with the early October high. It’s quite a move since early December with a jump above both the 50-day and 200-day moving averages. It’s the sort of phenomenon that big Wall Street algorithms notice. The United States Oil Fund is designed to reflect the movements…