Because I THINK the PPTs want to boost the Energy sector today, in order to boost the rest of the market.
Since the Brent stocks have no European direction to follow, they should theoretically trade with XOM and its peers. Let's see.
I believe STO results come out tomorrow? Well, next coupla days. If good, should also help boost the rest of the group.
Also, note that STO sold interest in a couple of Mozambique blocks at good prices last week. Didn't see story about it until today.
E's Mozambique blocks are said to be the richest ones. So when those sales to other majors start - thought it would have happened already, but soon - that news stream provides steady support to the stock despite any additional Eurozone specific turmoil.
And actually, Italy could start looking a lot better than some of its peers next week. Its minor elections - compared to France and Greece - are touted to give additional support to Signor Monti, who is looking more and more like the most appealing leader in Europe.