Over 1 Year Ago
0 Min Read

Off goes WTI as energy sector soars on OPEC news

Shares of W&T Offshore (WTI) are trading 8% higher at a price of $6.345 at the time of this writing. While the Energy sector is having a mildly cheery day in general, the company is quickly outmatching it's peers. The market is undergoing a significant macro move (1.9%) which could be a factor in the stock's movement.

W&T Offshore has been trading between a 52-week high of $9.01 and a 52-week low of $2.97. The stock has a market cap of $908 Million.

W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and has grown through acquisitions, exploration and development. The Company currently has working interests in 43 producing fields in federal and state waters and has under lease approximately 737,000 gross acres, including approximately 527,000 gross acres on the Gulf of Mexico Shelf and approximately 210,000 gross acres in the Gulf of Mexico deepwater.

As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

ThisKarmaLimitSucks - 8 upvotes - source
Cashed out +100% on my oil calls in two days. WTI under $80 was always a fraud.

fscumeau - 7 upvotes - source
WTI lmao

VisualMod - 4 upvotes - source
>Oils update: Oil - WTI (NOV) 81.83 +2.95% Oil - WTI (DEC) 80.98 +2.88% Oil - Brent (JAN) 85.7 +2.6% Oil - Brent (FEB) 84.02 +2.46% Gasoline 2.4154 +2.07% London Gas Oil 1006 +1.67% \#Oil \#Brent \#WTI \#OOTT ^IGSquawk ^[@IGSquawk](http://twitter.com/IGSquawk) ^at ^2022-10-02 ^18:03:57 ^EDT-0400

Xenotheos - 4 upvotes - source
I don't care about WTI or the nasdaq, how are lean hogs doing

sleepyspar - 2 upvotes - source
Wti up 2.6%, Brent down 1.8??

Klutzy-Ad6298 - 2 upvotes - source
Hope we can get past WTI 95.6…

VisualMod - 2 upvotes - source
>U.S. WTI CRUDE OIL FUTURES RISE BY OVER $4 TO $83.53 A BARREL ^\*Walter ^Bloomberg ^[@DeItaone](http://twitter.com/DeItaone) ^at ^2022-10-03 ^08:29:31 ^EDT-0400

KKrum41302 - 1 upvotes - source
WTI mooning

BeTheBeach - 1 upvotes - source
It's got so much more room to run. I'm buying E&P companies trading a 5 times cash flow at 80 WTI and 7 MBTU gas. When the shit hits the fan in Europe this winter these prices are going to explode.