Shares of energy companies rose after strong earnings from the two largest U.S. oil producers.

Exxon Mobil's second-quarter earnings doubled and Chevron posted its highest quarterly earnings on record as energy prices soared during the prolonged closure of the Strait of Hormuz.

President Trump on Friday said he plans to resume heavy military strikes against Iran to force the regime to come to the negotiating table, vowing to hit the country "very hard" and predicting that the hard-line regime would eventually "peter out."

British energy major BP put its U.K. North Sea business up for sale, paving the way to end oil production in its home country after more than half a century.