BUZZ-US oil cos climb as renewed strikes threaten shipments through Hormuz
Occidental Petroleum Corporation OXY | 0.00 | |
Chevron Corporation CVX | 0.00 | |
Diamondback Energy, Inc. FANG | 0.00 | |
ConocoPhillips COP | 0.00 | |
Exxonmobil Holdings Corporation XOM | 0.00 |
** Shares of oil and gas companies climb in premarket trading, as crude prices rise after renewed military strikes between the U.S. and Iran reignited concerns over energy shipments through the Strait of Hormuz
** Brent crude futures LCOc1 up 2.4% at $77.84 per barrel, while U.S. West Texas Intermediate crude CLc1 rises 2.3% to $73.03 a barrel O/R
** Vessel traffic through the strait fell to a five-week low on Sunday, ship-tracking data showed; six vessels transited the strait on Sunday, according to Kpler
** U.S. oil majors Exxon Mobil XOM.N and Chevron CVX.N each climb 1%
** Oil and gas producers ConocoPhillips COP.N, Diamondback Energy FANG.O, Occidental Petroleum OXY.N and EOG Resources EOG.N rise between 1.4% and 2.3%
** Fresh U.S. and Iranian strikes over the weekend fueled fears of a renewed escalation. Tehran struck 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