Energy higher following surge in oil prices; hospitals mixed; Hertz puts on brakes

By Colin Hanner

Chicago, June 27 – Distressed energy names were generally higher with rising oil prices on Tuesday, market sources said, with Los Angeles-based California Resources Corp. leading the sector with volume and mirroring others with round number gains.

Estimates prior to the Energy Information Administrations’ figures, which will be released on Wednesday, show that crude will fall by more than 3 million barrels during last week’s period, prompting the surge in oil that has, of the past week, been plagued by falling prices.

Plano, Texas-based oil and natural gas company Denbury Resources Inc. followed with similar gains.

The health care bill intended to go before the Senate for a vote later this week, before the July 4 holiday, was put on hold by Senate leaders on Tuesday afternoon due to a lack of Republican support needed to pass the bill.

Though hospital groups’ equities climbed on the day, trades in the bond market were few and far between. Community Health Systems, Inc. was up in one of its issues, though its spinoff, Quorum Health Corp., was lower.

A few pharmaceutical names traded on Tuesday, though volume was lower than Monday.

And, a day following frenzied speculation over Hertz Global Holdings, Inc.’s potential relationship with Apple Inc. and its autonomous car fleet, the rental car company saw mixed movement in a few of its issues.

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