Shares of clean energy manufacturing and solar-related companies, including Plug Power Inc PLUG, FuelCell Energy Inc FCEL, Enphase Energy Inc ENPH, First Solar, Inc. FSLR and Sunrun Inc RUN, are all trading higher as a surge in oil prices lifts alternative energy names.
The Russia-Ukraine conflict caused an increase in oil prices and put pressure on some countries to become less dependent on Russian gas. The United States today announced a ban on Russian oil imports.
The uncertainty surrounding oil as the Russia-Ukraine conflict continues to escalate has brought attention to companies focused on alternative energy.
The cost of a barrel of crude oil hit an intraday high of and 13-year high of $129.00 Tuesday morning and is trading around $128.00 at the time of publication.
See Also: Shell Intends To Halt Operations In Russia, Apologizes For Russian Oil Purchase
- Plug Power is trading higher by 5.2% at $24.46
- FuelCell is trading higher by 6.6% at $6.31
- Enphase Energy is trading higher by 11.8% at $177.54
- First Solar is trading higher by 4.8% at $78.56
- Sunrun is trading higher by 9.3% at $30.52
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