On Tuesday, U.S. oil and gas stocks rose broadly in pre-market trading. Equinor ASA and BP PLC each gained over 3%, while Petroleo Brasileiro SA Petrobras and Total SA advanced more than 2%, and Eni SpA, Exxon Mobil, and Chevron rose over 1%.
On the news front, international oil prices surged, with WTI crude oil futures (front-month contract) climbing more than 3% to hit a new high since early June, while Brent crude futures rose 2.5% to reach their highest level since July 23. Yemen's Houthi rebels claimed to have launched retaliatory strikes against Saudi air force bases and Saudi Aramco's infrastructure.