Hess Corporation (NYSE:HES), Petrobras (NYSE:PBR), PetroChina (NYSE:PTR) were all moving up Thursday on the inflationary measures put in place by the Federal Reserve through QE2, which pushed the broader commodity market up, along with raw materials companies within each sector, including the oil producers.
Commodity prices overall rose, including silver, which increased to over $26 an ounce. Gold prices rose to all-time record highs again, closing in on the $1,400 an ounce mark. Aluminum surged to its highest levels since April.
Light, sweet crude for December delivery settled the trading day up $1.80 a barrel on the New York Mercantile Exchange at $86.49.
Hess Corporation closed at $69.25 Thursday, rising $2.81, or 4.23 percent. Petrobras surged to close at $20.42, gaining $0.96, or 4.93 percent. PetroChina was up to $131.06 at the end of the trading day, rising by $2.25, or 1.75 percent.
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