Italy Plus Norway Equals Excellence

Crude oil is snapping back hard this morning, seen by strength the USO ETF, as are energy stocks housed in the XLE sector ETF. 

With the XLE pushing back over its 200-day moving average for the first time in a while as I write this, it is worth pointing out some names which are perhaps off the radar of most traders in America.

Specifically, two prominent foreign energy firms, Eni SpA out of Italy and Statoil out of Norway, respectively below on their daily timeframes, are both threatening fresh breakouts after their recent, tight consolidations. Of course, the U.S. large cap integrated firms like COP CVX XOM are green and worth watching, too. But it is interesting to see international energy firms seem to corroborate the bull thesis that energy is on the comeback trail headed into the end of 2017.