Oil Rises as Stock Market Stalls - TheStreet

Oil Rises as Stock Market Stalls

The October West Texas Intermediate contract climbs $4.65 to $109.20 a barrel.
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Crude oil futures are climbing steadily Monday at the New York Mercantile Exchange, buoyed by growing confidence in the U.S. economy.

The October West Texas Intermediate contract was recently up $4.65 at $109.20 a barrel, and Brent crude futures were $4.25 higher at $103.86 a barrel.

Heating oil futures were rising 11 cents at $3.00 a gallon, reformulated gasoline was edging 4 cents higher, and natural gas was unchanged at $7.53 per million British thermal units.

Most energy stocks are gaining ground.

BP

(BP) - Get Report

is 2% higher at $55.69,

Chevron

(CVX) - Get Report

is up almost 1% at $88.60,

Exxon Mobil

(XOM) - Get Report

is up 1.4% at $80.75, while

ConocoPhillips

(COP) - Get Report

is edging down 0.7% at $77.78.

The

U.S Oil Fund

(USO) - Get Report

, an exchange-traded fund that tracks the performance of WTI futures at the Nymex, was recently up 4.5% at $86.35.