Why These Energy Stocks are Gaining This Week

3. YPF Sociedad Anónima (NYSE:YPF)

Share Price Gains Between Oct 24 – Oct 31: 35.18%

YPF Sociedad Anónima (NYSE: YPF) is an energy company that engages in oil and gas upstream and downstream activities in Argentina.

YPF Sociedad Anónima (NYSE:YPF) is among the Argentinian stocks that soared after President Javier Milei’s La Libertad Avanza party secured a decisive victory in the midterm elections, a key requisite to keep economic overhaul on track and a US financial backstop in place. The country’s financial market reacted very positively to the news.

Moreover, YPF Sociedad Anónima (NYSE:YPF) received a boost on October 27 when a Bloomberg report revealed that XRG, the investment arm of Abu Dhabi National Oil Company, which focuses on low-carbon solutions, is in talks to invest in an LNG project being developed by the Argentine company. The state-run YPF is developing the floating terminal as part of its ambitions to tap into the growing global LNG market, and the company is already collaborating with Eni and Shell on the project, but final investment decisions haven’t been made.