(Updated with recent stock- and oil-price information.)

NEW YORK (

TheStreet

) -- Oil futures pushed past $74 Monday late morning, with many reports attributing the gains to investor confidence about economic recovery.

Light, sweet crude for October delivery was trading up 43 cents at $74.32 per barrel on the New York Mercantile Exchange.

On Friday, the front-month contract gained 98 cents to settle at $73.89 after positive comments from

Federal Reserve

Chairman Ben Bernanke, strong housing data, and a weaker dollar helped push prices higher. But on Monday, the euro weakened against the dollar.

Elsewhere, major oil stocks were moving in positive territory in morning trading.

Exxon Mobil

(XOM) - Get Report

gained $1.15 to $71.07.

Chevron

(CVX) - Get Report

picked up 99 cents to $70.72, while

ConocoPhillips

(CVX) - Get Report

added 94 cents to $45.14.

Shares of

Marathon Oil

(MRO) - Get Report

,

Murphy Oil

(MUR) - Get Report

and

Hess

(HES) - Get Report

were up 1.4%, 3.1% and 0.6%, respectively.

In the servicing group,

Schlumberger

(SLB) - Get Report

gained 2.2%, while

BJ Services

(BJS)

was up 1%.

-- Reported by Sung Moss in New York

.

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