ADRs in Focus: Emerging markets oil and gas

Light, sweet crude for June delivery jumped $2.17 to $126.29 on the Nymex, after earlier rising to a new trading record of $127.82 a barrel.

Shares of Brazil's Petrobras rose $2.17, or 3.2 percent, to $70.45. The state-owned company has announced two large oil energy discoveries in the past six months.

Shares of PetroChina Co. Ltd. gained $4.39, or 3.1 percent, to $147.53.

Shares of China Petroleum & Chemical Corp. rose $2.55, or 2.7 percent, to $98.45.

Shares of Hong Kong's CNOOC Ltd. increased 83 cent to $192.34.

Shares of South Africa's Sasol Ltd. edged up 33 cents to $65.44.

Bucking the trend, shares of Argentina's Petrobras Energia Participaciones SA shed 9 cents to $12.92.

The Bank of New York Emerging Markets ADR Index -which includes shares of companies based in China, Mexico, Brazil and more -rose 4.97 points to 391.90. The Bank of New York Composite ADR Index gained 1.66 points to 188.46 as the U.S. markets slipped in afternoon trading.

ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.