Analysts calculate that hydraulic fracturing techniques, or fracking, to extract shale oil and gas are profitable with oil prices at $60 to $80 per barrel, reports Joergen Oerstroem Moeller for Huffington Post. West Texas Intermediate crude oil currently trades around $100.4 per barrel.
The iShares U.S. Oil & Gas Exploration & Production ETF (NYSEArca: IEO), which has the second-largest weight in APC at 6.4%, also gained 1.3% Thursday.
Market Vectors Unconventional Oil & Gas ETF
For more information on the oil industry, visit our energy category.
Max Chen contributed to this article.