Oil, Gas And Mining Stocks Skyrocket Yet Again To Start Week

Shares of oil and gas companies have started this week on a brighter note as oil prices rise on an improving global outlook and stronger sentiment for a market recovery.

Crude for April delivery were up 1.87 percent at $36.59. Crude prices have recovered from their 12-year lows hit less than two months ago. They show a relative strength index (RSI) of 65.41.

Among the non-majors, shares of LinnCo LLC (NASDAQ: LNCO) have surged more than 100 percent, Linn Energy LLC (NASDAQ: LINE) climbed 94 percent, Energy XXI Ltd (NASDAQ: EXXI) advanced as much as 38 percent, North Atlantic Drilling Ltd. (NYSE: NADL) edged up 36 percent and Ultra Petroleum Corp. (NYSE: UPL) gained 24 percent.

Among the majors, Exxon Mobil Corporation (NYSE: XOM) rose 1 percent, Chevron Corporation (NYSE: CVX) advanced 1.5 percent, ConocoPhillips (NYSE: COP) increased 3 percent.

Meanwhile, a surge in iron ore prices has lifted shares of mining companies that have exposure to the commodity, which is used to make steel. Cliffs Natural Resources Inc (NYSE: CLF) surged 19 percent, Vale SA (ADR) (NYSE: VALE) gained more than 9 percent, and Brazil steelmaker Gerdau SA (ADR) (NYSE: GGB) climbed 5 percent.