The stock market has observed a significant rally in oil stocks like GAS, PLX, PVS, PVD, BSR, which saw gains of 10-15% over two trading sessions. Certain stocks like PVS reached their highest levels of the year, driven by escalating geopolitical tensions in the Middle East and a nearly 20% increase in Brent oil prices to $75 per barrel. A drop in U.S. crude oil reserves signals strong demand and anticipated rate cuts by the Fed. SSI Research forecasts improved profit outlooks for the oil sector in 2025, with BSR expected to rise 73% in profits due to recovery in consumption, while PVD could see a 50% growth thanks to higher rig rental prices.
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