What's Going On With Hess Stock Today

Hess Corp. HES shares are trading higher by 3.63% to $134.02 Monday afternoon. Shares of energy companies at large are trading higher amid an increase in the price of oil.

What's Happening?

The surge in the price of oil is likely a ripple effect of the recent G7 price cap on Russian oil, as well as last week's Keystone pipeline oil spill.

Per a report by CNBC, the Keystone Pipline failure occurred last Wednesday nearby Washington, Kansas. Experts say an estimated 14,000 barrels of crude, or 588,000 gallons of a form of crude known as tar sands oil, into a nearby natural waterway.

NBC says the Biden administration has ordered the closure of the pipeline until the situation can be remedied.

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According to data from Benzinga Pro, Hess has a 52-week high of $149.83 and a 52-week low of $68.32.