Energy stocks are experiencing a rebound as oil prices continue to rise. Brent Crude prices which have seen a dramatic fall from the record highs of 2014 are now nearing USD 70 per barrel.  Brent Crude went through a massive downturn between 2014 and 2016 as the price per barrel plummeted from over USD 100 to just below USD 30.

With the rise in oil prices, it is expected that companies such as Exxon Mobil (NYSE: XOM), British Petroleum, (NYSE: BP), Chevron (NYSE: CVX) and Halliburton (NYSE: HAL) will be experiencing gains in share prices. This is due to the strong positive correlation between energy stock and oil prices; As the price of Brent Crude rises, so too does the revenue generated by the energy firms.

The rise in oil prices is due to steady falls in oil production by OPEC and the expected trade sanctions on Iran, due to go into effect on November 4^th. This, coupled with the strong U.S economy which is growing at 4.1% in the 2^nd quarter of this year, is helping large energy companies gain on share prices.  Currently, Exxon is experiencing gains of 0.78% today, with gains of 6.11% over the past 30 days, while BP and Chevron have also experienced gains in the past 30 days of 2.78% and 0.32% respectively.

However, though energy companies usually run parallel to Brent Crude prices, Haliburton remains an outlier as the firm has been experiencing some internal predicaments, which have seen the Company lose on shares in the past 30 days by 3.06%. That being said, it is important to note that this is due to company-specific factors. Looking forward, Halliburton shares should continue to grow, as the past 5 days have seen the shares rise by 3.32%.