Wednesday, May 11, 2011

National-Oilwell Varco, Inc. (NOV) Trades Up as Oil, Gas Rise

National-Oilwell Varco, Inc. (NYSE:NOV) traded up Tuesday as crude oil, natural gas and gasoline prices jumped, pushing up the share price of the company.

Benchmark crude for May delivery rose $1.33 to settle at $103.88 a barrel on the New York Mercantile Exchange.

Heating oil jumped 3.94 cents to settle at $3.0012 a gallon. Gasoline futures climbed 10.13 cents to settle at $3.3797 a gallon, while natural gas for June delivery increased 8.7 cents to settle at $4.303 per 1,000 cubic feet.

National Oilwell Varco, Inc. designs, constructs, manufactures, and sells systems, components, and products used in oil and gas drilling and production; supplies oilfield services and supplies; and distributes products, and provides supply chain integration services to the upstream oil and gas industry around the globe.

National-Oilwell Varco, Inc. (NOV) closed Tuesday at $71.49, rising $0.82, or 1.16 percent.

No comments: