Shares of energy companies rose alongside oil futures as tensions mounted between the U.S. and Iran.

President Trump threatened to attack Oman if the nation "gets in the way" of U.S. efforts to reach a peace deal with Iran. Iran and Oman are close to agreeing on a new protocol for managing the Strait of Hormuz.

Separately, Iran's state-linked Fars News Agency reported on X that a tanker had been detained, and reiterated state requirements for transit fees in the key oil route.

U.S. exploration and production companies are unlikely to rapidly increase production in the short term, partly because of a glut in natural gas, which is often a by-product of oil drilling, said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.