3 Penny Stocks To Consider For The Oil Rally

As oil continues to soar and approaches $70 a barrel, shares of many stocks in the energy sector have rallied as well. Some appear to be poised to keep moving higher.

These include penny stocks W&T Offshore, Inc. (NYSE:WTI), Ultrapar Participações S.A. (NYSE:UGP), and Vista Oil & Gas, S.A.B. de C.V. (NYSE:VIST).

See Also: 3 Penny Stocks In The Energy Sector Ripe To Play For Inflation

WTI may be breaking the resistance around the $4.50 level. This is where the top was in early March. If it clears this level, the uptrend could resume.

Shares of VIST hit resistance at $3.75 during last June and July, and they're now trading above this important level. There’s a good chance the rally continues.