Why These Energy Stocks are Gaining This Week

6. YPF Sociedad Anónima (NYSE:YPF)

Share Price Gains Between Oct. 3 and Oct. 10: 9.4%

Next on our list of Energy Stocks that Gained the Most This Week is YPF Sociedad Anónima (NYSE:YPF), an energy company that engages in the oil and gas upstream and downstream activities in Argentina.

YPF Sociedad Anónima (NYSE:YPF) jumped after the company recently announced that it had finalized an engineering agreement on a Vaca Muerta LNG project with Eni S.p.A., utilizing the Italian company’s know-how on floating units for LNG as it has been managing similar projects in Congo and Mozambique. According to YPF CEO Horacio Marin, the project will require drilling 800 new wells, with aims to double the company’s gas production from last year.

Moreover, the Argentinian markets breathed a sigh of relief after the U.S. Treasury finalized a $20 billion currency swap framework with the cash-strapped Latin American ally and bought pesos in the open market.