MW: Oil stocks snap back on crude, equities rebound
By Jim Jelter
SAN FRANCISCO (MarketWatch) -- A $2 pop in crude-oil prices and a rebound in equities ahead of President Obama's jobs speech boosted energy stocks Wednesday, erasing the previous session's losses. Opening trades sent the NYSE Arca Oil Index XX:XOI +2.19% 2% higher to 1,135 points, where it was leading sector gainers in the S&P 500. Marathon Oil MRO +3.31% was rallying most within the group, up 3.4% at $25.91 a share. The NYSE Arca Natural Gas Index XX:XNG +1.97% was ahead 1.7% at 627 points, led by a 5.5% gain for Williams Cos. WMB +4.62% following the company's decision to lift its dividend 25%. The Philadelphia Oil Service Sector Index OSX +2.48% was up 2.2% at 230 points. Crude for October delivery was up $2.46 at $88.48 a barrel in New York.
