Small Cap Oil Stocks Rip Higher

Small cap oil stocks are rocketing higher today on the back of a move over $100 per barrel on oil. While stocks like ConocoPhillips COP have moved dramatically higher in recent months as oil has soared, small cap oil stocks have stayed at their lows. Today, the United States Oil Fund LP (ETF) USO is trading at $39.31, +0.87 (+2.26%). This is over a 30% move in the last six weeks.

Small cap oil stocks are waking up today. Huge gains are being seen on Blue Dolphin Energy Company BDCO, Mexco Energy Corporation MXC and others. Mexco Energy Corporation is trading at $8.35, +2.08 (+33.19%).

Traders are clamoring to find the next small cap oil stock that has not moved yet. While most have already run today, there are a few still near their lows. Magellan Petroleum Corporation MPET is one to keep on watch.

Gareth Soloway
InTheMoneyStocks.com