Wednesday, May 11, 2011

Schlumberger (NYSE:SLB) Trades Up While Oil, Gas Rise

Crude oil, natural gas and gasoline prices jumped Tuesday, pushing up the share price of Schlumberger (NYSE:SLB) on the day.

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.

Schlumberger supplies technology, integrated project management, and information solutions to the oil and gas industry around the world.

Schlumberger (SLB) closed at $84.49, rising $0.90, or 1.08 percent.

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