Energy stocks fly as U.S. crude climbs to 10-week high

The energy sector (XLE+3.9%) is the leading performer for the day and the week, as U.S. crude oil (CL1:COM) closed at its highest in more than two months; July WTI+4.8%at $33.49/bbl, and July Brent+3.2%at $35.75/bbl.

The EIA reported a second straight weekly decline in domestic crude supplies and a big drop in stocks at the Cushing, Okla., storage hub.

"The crude oil stock draw was unexpected, but it is attributable to declines in both imports and production, while refinery inputs were higher," IHS Markit's Marshall Steeves tellsMarketWatch. "Overall, storage isn't filling up as quickly as expected with the steeper production cuts rebalancing the physical market."

Today's notable movers include: HFC+7.9%, FTI+7.9%, BKR+7.8%, MPC+7.1%, HAL+7.1%, NOV+7%, SLB+6%, VLO+5.3%, APA+5%.

ETFs: USO, XLE, UCO, VDE, OIH, BGR, ERX, BNO

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