Energy stocks lead a market gain as oil price climbs

NEW YORK (AP) — U.S. stocks were solidly higher for a third straight day today, once again helped by higher oil prices, which lifted shares in oil and gas companies.

The Dow Jones industrial average was up 143 points, or 0.8 percent, to 17,560 as of 12:10 p.m. Eastern. The Standard & Poor's 500 index rose 19 points, or 1 percent, to 2,059 and the Nasdaq composite rose 29 points, or 0.7 percent, to 5,037.

With the gains in the last three days, U.S. markets have recovered roughly two-thirds of the losses they incurred late last week. The S&P 500 is back to breakeven for the year.

Oil prices rose for a third day, bouncing back from 11-year lows hit earlier in the week, which helped lift the battered energy sector.

U.S. crude futures jumped $1.49, or 4.2 percent, to $37.63 a barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, added $1.09, or 3 percent, to $37.20 a barrel in London.

Murphy Oil rose $1.38, or 6 percent, to $23.69, ConocoPhillips rose $2.38, or 5 percent, to $48.67 and Halliburton was up $1.33, or 4 percent, to $35.34. Overall, the S&P 500 energy sector is up nearly 5 percent just this week.