Another day of recovery in Piazza Affari for oil stocks. At the opening of the session, the best shares of the Ftse Mib were those of Saipem (+2,96%, at 8,695 euros), Tenaris (+2,03%, at 13,08 euros) and Eni (+1,92%, at 15,38 euros). Yesterday the stocks had gained respectively 5,1, 2,7 and 1,2%.
Oil quotations are supported by the price of oil, which continues to rebound. The Brent gains 64 cents, to 55,55 dollars a barrel, while the US benchmark wtf it returned above $50, at 50,16, for a gain of 60 cents. In the past two sessions, the increase had been respectively 11 and 10%.
Traders are wondering about the nature of crude's sudden reversal. One of the causes is the higher-than-expected drop in the closure of oil extraction plants American shale oil.
An important role was also played by the contagion, or the phenomenon that occurs when, as happens in this period, short-term prices are lower than those of futures on longer maturities. Operators, according to this thesis, are selling the oil bought in the future with a sure profit.
