Oil And Gas Companies Rise With Oil On Bank Plan

NEW YORK (AP) — Shares of oil and gas companies jumped on Monday along with the broader market and the price of crude oil and natural gas, as investors were encouraged by the government's new plan to remove troubled assets from the nation's banking system.

Benchmark crude for May delivery rose $1.73 to settle at $53.80 a barrel in trading on the New York Mercantile Exchange. Natural gas prices gained 7.9 cents, or 1.8 percent, to $4.385 per thousand cubic feet.

Shares of Exxon Mobil Corp., world's largest publicly traded oil company, rose $4.47, or 6.8 percent, to $70.56 in Monday afternoon trading. The world's largest oil field services company, Schlumberger Ltd., gained $5.07, or 12 percent, to $46.59. Chesapeake Energy Corp., the biggest gas producer in the U.S., saw its shares rise $1.86, or 10.5 percent, to $19.50. ...