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 LNCO have surged more than 100 percent, Linn Energy LLC LINE climbed 94 percent, Energy XXI Ltd EXXI advanced as much as 38 percent, North Atlantic Drilling Ltd. NADL edged up 36 percent and Ultra Petroleum Corp. UPL gained 24 percent.

Among the majors, Exxon Mobil Corporation XOM rose 1 percent, Chevron Corporation CVX advanced 1.5 percent, ConocoPhillips 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 CLF surged 19 percent, Vale SA (ADR) VALE gained more than 9 percent, and Brazil steelmaker Gerdau SA (ADR) GGB climbed 5 percent.