West Texas Intermediate has surged more than 14% for the month, putting it on pace for its best monthly performance since its 17.2% gain in January 2022. APA APA has the strongest 50-day correlation with WTI prices of 0.71, meaning it is likely to see gains as the commodity continues to rise. Devon Energy Shares of Devon Energy have popped more than 11% month to date. It has a 50-day correlation of 0.69 with WTI, and an average correlation of 0.59 with the commodity since 2015. Pioneer Natural Resources The Texas-based oil company has a 50-day correlation value of 0.65 with WTI Crude.

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Persons: Russell, Goldman Sachs, DCLA, Sarat Sethi, Pioneer's, — CNBC's Michael Bloom Organizations: West Texas, CNBC, APA APA, . Devon Energy, Devon Energy, Diamondback Energy Diamondback Energy, Natural Resources, WTI Locations: Saudi Arabia, Russia, Natural Resources The Texas