BUZZ-US energy stocks climb as military escalation disrupts Hormuz shipments
Occidental Petroleum Corporation OXY | 0.00 | |
Marathon Petroleum Corporation MPC | 0.00 | |
Texas Pacific Land Corporation TPL | 0.00 | |
Phillips 66 PSX | 0.00 | |
Chevron Corporation CVX | 0.00 |
Updates
** S&P 500 energy index .SPNY gains 2.6%, tracking rising oil prices O/R
** Brent crude futures LCOc1 up 3.1% at $78.40/barrel and U.S. West Texas Intermediate crude futures CLc1 rise 3% to $73.56/barrel. Both contracts climbed more than 4% earlier in the session.
** Oil prices surge after renewed military strikes between the U.S. and Iran reignited concerns over energy shipments
** Tehran targeted U.S. facilities across the Gulf on Sunday and said it had again closed the Strait of Hormuz; Iran's Revolutionary Guards said on Monday they had attacked U.S. military bases in Kuwait and Bahrain
** U.S. energy majors Chevron CVX.N adds 1.9% and Exxon Mobil XOM.N jumps 2.5%
** Valero Energy VLO.N, Phillips 66 PSX.N, Texas Pacific Land Corp TPL.N and Marathon Petroleum MPC.N rise between 3.6% and 4.2%; among top percentage gainers on energy index
** Oilfield services companies Baker Hughes BKR.O up ~1% and Halliburton HAL.N rises 2.5%
** Refiners HF Sinclair DINO.N adds 2.2% and PBF Energy PBF.N gains 5.5%