If the price of Oil is then Energy Companies react to this in the expectations of better in the future and this is reflected in the behavior of the share price and in the process they raise up other sectors, like Oil & Gas Equipment Companies because they need more equipment to increase the production. if I understand this concept. But this carried a risk too, if Oil drop, the same concept but the other way around.
Wait for the pullback around 8.00 area. And the target is your responsibility, the decision to close this type of trades, It will be taken in the future based on how the price behaves