By Steve Gelsi, MarketWatch
NEW YORK (MarketWatch) — Energy stocks rose on Tuesday as the broad equities and commodity markets eased woes tied to Europe’s sovereign debt.
Crude oil prices reclaimed the $90-a-barrel level and the Dow Jones Industrial Average (DJIA 11,684, +47.00, +0.40%) advanced by 42 points, setting the stage for a rise in energy stocks.
The NYSE Arca Oil Index (XOI 1,223, +12.16, +1.01%) advanced 0.9% to 1,221. The NYSE Arca Natural Gas Index (XNG 615.22, +4.78, +0.78%) added 0.6% to 614. The Philadelphia Oil Service Index (OSX 244.64, +3.52, +1.46%) rose 1.5% to 245.
Among movers in the energy sector, Weatherford (WFT 22.73, +0.65, +2.94%) rose 2% after Jefferies & Co. upgraded the oil service firm to buy.
Consol Energy (CNX 52.80, +1.76, +3.45%) rose 3.2% after it said its fourth-quarter production beat its target.
