Energy Stocks Rebound Along With The Price Of Crude Oil

(RTTNews) - Benefiting from a significant rebound by the price of crude oil, energy stocks have shown a substantial move back to the upside during trading on Thursday.

Reflecting the strength in the energy sector, the NYSE Arca Natural Gas Index is up by 2.7 percent, while the NYSE Arca Oil & Gas Index is up by 2 percent and the Philadelphia Oil Service Index is up by 1.6 percent.

After tumbling $1.06 to $41.71 a barrel in the previous session, crude oil for September delivery is jumping $1.82 to $43.53 a barrel

The rebound by the price of crude oil comes after Saudi Arabia's Energy Minister said oil producing nations may discuss possible action to stabilize the market at a meeting next month.