Oil stocks rallied on Monday morning as crude futures rose. Weakness in the dollar helped boost oil prices $2.29 to $85.27 per barrel, and the sector appeared to benefit from the possibility of more stability in the Euro zone.
France’s Total (TOT) was up about 5% in early morning trading to lead the supermajors, and likely got an additional lift from news that European leaders are coordinating to keep the region’s debt problems from spreading. Royal Dutch Shell (RDSA) also rose 4.4%.
