The iShares U.S. Oil Equipment & Services ETF is seeing unusually high volume in afternoon trading Thursday, with over 1.8 million shares traded versus three month average volume of about 200,000. Shares of IEZ were up about 2.4% on the day.

Components of that ETF with the highest volume on Thursday were Transocean, trading up about 4.5% with over 15.9 million shares changing hands so far this session, and Schlumberger, up about 0.5% on volume of over 3.9 million shares. Oil States International is the component faring the best Thursday, up by about 8.6% on the day.

For MarketNewsVideo.com, I'm Sayoko Murase.